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Ireland may need more EU-IMF cash - minister
Date 29/05/2011 23:22  Author webmaster  Hits 944  Language Global
29 MAY 2011

By Carmel Crimmins and Angeliki Koutantou

DUBLIN/ATHENS (Reuters) - Ireland may have to ask for another loan from the European Union and International Monetary Fund because it will struggle to return to debt markets to raise funds next year, a government minister said on Sunday.

In comments to The Sunday Times newspaper, Transport Minister Leo Varadkar became the first cabinet member to cast doubt in public on Ireland's ability to raise cash on the bond market because of punishing yields demanded by investors.

"I think it's very unlikely we'll be able to go back next year. I think it might take a bit longer ... 2013 might be possible but who knows?" Varadkar was quoted as saying.

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