FINANCE MINISTER BRIAN LENIHAN has admitted he would like if Ireland’s talks with representatives from the European Union and IMF ended up with the country being offered a contingency fund to assist the banking sector.

Speaking in the Dáil this morning, Lenihan said the offer of such a fund – which could amount to tens of billions – would be a “very desirable outcome” to the talks, which resumed at the Central Bank this morning after beginning earlier in the week.

It was possible that the discussions could result in Ireland being offered a fund which would be left for Ireland to “draw down”, or access, as it saw fit and as it needed. Lenihan stressed, however, that discussions had not yet resulted in such fund being offered.

The Irish Times reports that Lenihan denied the cabinet had been keeping the public “in the dark” over the fact that discussions were taking place at all, as opposition leaders condemned what they felt was a cover-up in how ministers insisted no such talks were underway.

RTÉ adds Lenihan’s claim that there was “no question of loading an unspecified burden on the taxpayer”, and further notes tourism minister Mary Hanafin’s claim on the News at One that the talks could well be finished before the Budget was announced.