The Finance Minister has rejected an accusation that the government has not given the public a clear explanation about what is going on at European level.
Eurozone finance ministers agreed late on Tuesday that a team from the European Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB) would start on Thursday to examine what measures were needed if we ultimately decide to seek aid.
In an early indication that financial markets were unimpressed by ours decision to reject immediate EU financial assistance the premium investors charge for holding Irish 10-year bonds stayed high at around 570 basis points.
Former president of the European Parliament says Ireland is at a moment which illustrates an almost total strategic failure of our politics and public administration.
Pat Cox says it is a moment of drama and definition.
He is calling on the government to give the people an honest explanation of what is going on – while Minister Brian Lenihan has rejected the claim by Mr. Cox.
