Finance Minister Michael Noonan has categorically ruled out seeking further bail-out funds for Ireland.

Speaking to a group of Chartered Accountants in Limerick today, Mr Noonan said the country is currently on target and meeting commitments under the EU-IMF bail-out programme.

The Taoiseach Enda Kenny has also said there will be no need for any second IMF/ EU bailout for Ireland

Meanwhile, Jobs, Enterprise & Innovation Minister Richard Bruton has said Ireland will return to the international markets for funding in the second half of next year.

Both ministers were reacting to comments made by Transport Minister Leo Varadkar, who speculated in the weekend newspapers that Ireland may need a second package of loans next year.

Mr Noonan said the targets under the EU/IMF programme were examined every quarter, and Ireland had been given a clean bill of health. If we continue to meet those targets we will grow out of our present difficulties, he added.

The Finance Minister said the Government may go back to the money markets 'in a tentative way' in 2012, depending on our progress under the programme this year. He said the Government will be advised by the National Management Treasury agency on this.

He said there was a crisis in Greece, but that he did not believe it would affect Ireland's position. However, he added that it may lead to a hardening of sentiment in the euro zone towards rescue packages.

He also reiterated his stand on Ireland's corporation tax, saying the 12.5% rate is sacrosanct. The Minister said a reduction in the interest rate on the bail-out money is quite small and it was not worth it to us to trade that for a reduction in our corporation tax rate.

Speaking to a group of European correspondents in Brussels, Minister Bruton said comments by Minister Varadkar were 'taken out of context'.

Mr Bruton said funding was available under the EU-IMF programme until the end of 2013 so there was 'no absolute need' to return to the markets before then.

There was also 'headroom 'available, since only €24 billion of the €35 billion allocated for bank recapitalisation would be needed, and of that €24 billion, an element would come from the contribution of junior bondholders at AIB and Anglo Irish Bank.

Mr Bruton said the NTMA would advise on the best timing to return to the market, suggesting that the return would be gradual and there would be no need for a 'massive requirement'.

Meanwhile, short-term borrowing costs for peripheral euro zone countries are higher today on concerns over the funding of Greece.

There is mounting uncertainty about whether the IMF and the EU will disburse the latest round of lending - €12 billion - to Athens. The money is due at the end of this month. If the loan money is not forthcoming, and without assistance from elsewhere, then Greece will default on its loan obligations.

Bond yields on two-year Greek debt rose to above 25%.

The yield on equivalent bonds for Ireland and other struggling euro zone economies also increased. Irish ten-year bond yields climbed to almost 11.36% this evening.