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Thursday 8 December 2016

Regling backs Irish progress as Slovakia votes for EU bailout

Published 14/10/2011 | 05:00

Outgoing Slovak Prime Minister Iveta Radicova sits alone in the Parliament in Bratislava yesterday. Parliament ratified a plan to
bolster the euro zone's EFSF rescue fund but she lost a confidence vote bringing on an early election as demanded by the opposition
Outgoing Slovak Prime Minister Iveta Radicova sits alone in the Parliament in Bratislava yesterday. Parliament ratified a plan to bolster the euro zone's EFSF rescue fund but she lost a confidence vote bringing on an early election as demanded by the opposition

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.

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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.

Irish Independent

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