An Important Clarification from the Minister for Finance

Michael Noonan made an important statement the today. It clears up a lot of misinformation on the subject of access to ESM and IMF funds. I think it's important the everyone clearly understands the situation.

Statement by Minister for Finance, Michael Noonan, TD:

"The statement by a spokesman for the IMF quoted in today's Sunday Times is being misinterpreted. The IMF have made it crystal clear in the negotiations of the Greece, Ireland and Portugal bailout programme that: they will not provide unilateral assistance to Eurozone countries they have only been prepared to contribute to a bailout if Europe takes the lead the amount of the IMF contribution depends on the amount of the European contribution If Ireland votes no in the referendum, Ireland will not have access to access to ESM funds. The ESM will be the only source of bailout funds when the Irish programme ends. The Government wants to give certainty at home and abroad. Certainty builds confidence. A Yes vote gives certainty and builds confidence. A No vote is a leap into the unknown”

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Tony Mulcahy

Tony Mulcahy

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