'Ireland Will Not Require A Second Bailout' - Schauble

German Finance Minister Wolfgang Schauble has said that Ireland will not require a second bailout.

He made his comments after a meeting with Irish Finance Minister Michael Noonan and Minister for Public Expenditure and Reform Brendan Howlin.

He also claimed there was a misunderstanding over reports that he was against any deal to help Ireland cope with its €64bn banking debts.

Others, outside Ireland, had unrealistic expectations of a deal on banking debts, he added.

"We know it's a very specific situation in Ireland, Ireland is a special case.

"The Eurogroup will continue to take this into account.

"On the other hand, we agree we have to avoid any announcement which could be misunderstood in a way that everyone in the world is thinking the actual programme for Ireland does not work well, because it works well, and that is the most important thing."

The three ministers held private talks for about 40 minutes, before they were joined by officials from the Irish and German finance ministries.

Mr Noonan said Germany and Ireland continued to enjoy a close relationship.


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