BRUSSELS—The U.K. is ready to help Ireland tackle its mounting debt problems, Chancellor of the Exchequer George Osborne said Wednesday.

“It’s in Britain’s national interest that the Irish economy is successful and that we have a stable banking system,” Mr. Osborne said. “So Britain stands ready to support Ireland in the steps it needs to take to bring about that stability.”

Mr. Osborne made the comments as he arrived for a meeting of finance ministers from the European Union, and minutes after European Commissioner for Economic Affairs Olli Rehn confirmed that the U.K.’s help is being sought as part of a financial support package for Ireland. Mr. Rehn said the question of a U.K. contribution arose because its banks have made big loans to Ireland.

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