Varadkar plays down bailout row

Minister for Transport Leo Varadkar has denied being "slapped down" by the Taoiseach for his comments in a newspaper interview…

Minister for Transport Leo Varadkar has denied being "slapped down" by the Taoiseach for his comments in a newspaper interview over Ireland probably needing a second bailout.

In his first public comments about the remarks, Mr Varadkar insisted he has not been "confined to barracks" for his comments.

"I wouldn't say that. I was in the Dáil all day yesterday, and I'm off to London this evening to address an Enterprise Ireland dinner," he said. “I'm certainly not being confined to barracks or anything like that. I would say that the story hyped up my comments, and I don't want to say anymore about them because it is such a sensitive issue.

"The Government's position is clear. We intend to go back to the markets in a small way in 2012 and go back fully in 2013," he said.

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His comments echoed those of Minister for Finance Michael Noonan who said on Monday he was hopeful the State will be back in the bond markets "in some small way" by end of 2012

When asked if there was any lessons for him out of the interview, Mr Varadkar said: "There probably is, but we will share them another day."

Mr Varadkar’s remarks whipped up a storm earlier in the week and led the Taoiseach, Enda Kenny, and other Ministers having to give interviews to clarify the Government’s position.

In the Dáil on Tuesday, Fianna Fáil leader Micheál Martin said such "loose talk costs jobs", adding that Mr Varadkar's interview had been picked up by more than 2,200 media outlets around the world.

Mr Kenny admitted the incident prompted him to warn Cabinet colleagues about the importance of what they had to say in media interviews.

During a several recent media briefings, Mr Varadkar said when planning departmental spending for 2012 that he operated under the assumption it was unlikely the State could go back to the international markets next year.

His spokesman has insisted Mr Varadkar had been speaking about a “hypothetical” situation in response to a query about available funding for transport projects.

It is understood Mr Varadkar apologised to colleagues at a Cabinet meeting on Tuesday for the confusion caused by the Sunday Times interview.