Regling backs Irish progress as Slovakia votes for EU bailout
Published 14/10/2011 | 05:00
THE head of the European bailout fund, the European Financial Stability Facility (EFSF), said Ireland is on track for a return to the money markets.
EFSF head Klaus Regling said investors think the Government "can return to markets in 2013, maybe next year" and that "Ireland has become a success story".
The Government must be able to borrow in the markets when the bailout ends in 2013, or risk a Greek-style second bailout. The comments come after the yield on 10-year government bonds fell below 8pc at the end of September, and stabilised around that level.
Last night, after days of delay, Slovakia became the last of the 17 euro-area countries to approve the bigger bailout fund.