The European Finance Commissioner has said that preparations are being made for potential rescue programme to bail out the Irish government if it asked for help. He was speaking at the end of an emergency meeting of the European Finance Ministers and global financial institutions in Brussels which discussed the huge debt crisis facing the Irish government. After days of denials, the European Commission on Tuesday night said it had been working with Ireland, the International Monetary Fund and the European Central Bank to resolve the country's banking problems. Officials also said that they have been in touch with financial institutions and that they would be able to raise the funds needed for any Irish bail out on the markets as soon as possible. The Euro zone countries said they are committed to maintaining financial stability and to helping Ireland to resolve its massive debt crisis. This, they hope, will calm the markets for now.