Bloomberg News

Noonan Has ‘No Plans’ to Ask Euro Rescue Fund to Buy Irish Bonds

November 30, 2011

Nov. 30 (Bloomberg) -- Finance Minister Michael Noonan said the Irish government has “no plans” at present to ask the euro area’s temporary bailout fund to buy its bonds.

Ireland will be “absolutely pragmatic” in deliberating on this issue, Noonan told reporters in Brussels today. The option of turning to the European Financial Stability Facility “is there in principle, but there are conditions attached,” he said.

Noonan said European finance chiefs discussed ways to get International Monetary Fund members to boost their contributions so the fund can support distressed euro-region countries. “That’s as far as it’s gone,” he said.

“There’s probably better leveraging if you go with the IMF,” he said.

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net


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