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Ireland’s Noonan Says Lack of ESM Backstop May Create Issues

March 01, 2012

Irish Finance Minister Michael Noonan said that the lack of access to Europe’s permanent bailout fund would create issues for the country as it seeks to return to international bond markets.

“We wouldn’t have the backstop of between 500 billion and 750 billion that would be available for us to go into the market and the absence of backstop would raise issues for us,” Noonan said in comments in Brussels, aired by Dublin based-broadcaster RTE today.

Ireland needs to ratify its vote on the fiscal compact to access the European Stability Mechanism.

To contact the editor responsible for this story: Finbarr Flynn at

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