Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
voobie via Flickr
The IMF is reported to be preparing its green piggy bank for Ireland, according to rumours in investor circles this morning.
# Bailout Republic?
Dept of Finance: no comment on IMF deal rumours
Speculation swirls among traders about a possible IMF bailout for Ireland, sending our bond yields even higher.
Updated 16:56
THE DEPARTMENT OF FINANCE has refused to comment on rumours of an IMF bailout for Ireland.
Ireland’s 10-year bonds rose above 8.6% this afternoon amid rumours of a possible IMF bailout for the country.
Speaking earlier today at a conference in Dublin, the Governor of the Central Bank Patrick Honohan said that an IMF intervention at this point would not entail a change in government policy.
Honohan said he did not believe Ireland would need outside financial assistance, but said the IMF would seek polices similar to those the government is putting together, RTÉ reports.
CMC Markets’ chief market strategist Ashraf Laidi tweeted earlier today:
ONLY RUMOUR SO FAR: hearing talk of possible IMF DEAL for Ireland here at the Dublin IFSS. #forex #euro #IMF NOTHINGconfirmed $
Neil Hume from the Financial Times sent a message:
WARNINGl THIS IS RAW. TOTALLY SPECULATIVE. “hearing talk of possible IMF DEAL for Ireland”, traders.
Minister Lenihan told the BBC last night that Ireland did not need an EU bailout and would return to the markets as planned next year to raise funds through bond sales.
However, a Department of Finance spokesperson told TheJournal.ie today that the department was not aware of the IMF deal rumours, and would not be commenting on them.
Reuters reported yesterday that concerns about sovereign debt in the eurozone – particularly in Ireland – were pushing debt-insurance costs to record levels, but had not trigged fears of a “global contagion” in the markets.
