Talks with IMF to begin tomorrow

RobitTV

The International Monetary Fund says it has not received a request from Ireland for financial support.

It confirmed a team of its officials was en route to Ireland and planned to begin work tomorrow morning to assess what may need to be done to assure financial stability.

Representatives of the IMF, the European Central Bank and the European Commission will discuss Ireland's four-year budgetary plan and the restructuring of the banking sector.

Central Bank Governor Patrick Honohan has said he expects the talks will result in a loan being offered to Ireland.

negotiations were not about a bailout, but would lead to a loan of tens of billions to Ireland, and that the Government would have to accept it.

This afternoon, Taoiseach Brian Cowen said the Central Bank Governor is entitled to give his view of the outcome of talks with European officials and the IMF.

The Taoiseach said there was no question of loss of sovereignty for Ireland as a result of the talks.

He added that he did not believe there was a reason for people in Ireland to feel ashamed or humiliated.

He said the Government's main interest was the protection of the taxpayer. He denied he was talking in riddles and said he is discharging his job responsibly

Former Taoiseach John Bruton said it was a sad day that Ireland would not now be making its decisions without someone looking over its shoulder.

Meanwhile, British Prime Minister David Cameron said he did not want to 'speculate' about Ireland's position when he was asked by MPs today about the likelihood of a bilateral bailout.

Speaking to the Commons Liaison Committee, Mr Cameron said: 'I don't want to rule things out, but I don't think we should be speculating.'