Question: how to finish rough basement walls

I have an old basement which was built with stone and ciment. It has a lot of loose ciment which is falling to the floor. I have put parging on the outside walls, but can I use that also inside or is there a better product to use inside. the parging looks good outside, but for inside I would like a smoother look.
Any suggestions?
Thanks in advance
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Is the basement dry? Is the wall moving? (bowed in or showing large cracks - probably why you are losing mortar) What do you intend to do with the room?
Choices: Parge and plaster to dead smooth and flat. Shoot the wall with Gunite or Thoroseal. Trowel to the smoothness you require. Build a stud wall ( 1 1/2" metal studs) to hold a new drywall surface, allow electric wiring, insulate, etc.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Keep the whole world singing. . . . DanG
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