Ireland denies bailout talks

The Irish Government has been forced to make a second denial in two days that it is preparing to go to the European Union for a multibillion-euro bailout.

Yesterday reports suggested Irish officials had already held talks with the European Financial Stability Fund about a rescue package of between €60 billion ($106.1 billion) and €80 billion.

European Central Bank officials were reported to have urged the country to take emergency aid to stop concerns about the Irish economy spreading to neighbouring countries.