independent

Thursday 17 April 2014

Bailout exit now officially under way

Economic and Monetary Affairs Commissioner Rehn addresses the European Parliament Economic and Monetary Affairs Committee in Brussels...Economic and Monetary Affairs Commissioner Olli Rehn addresses the European Parliament Economic and Monetary Affairs Committee in Brussels April 25, 2013. European Union countries will continue to consolidate public finances, but they can now afford to do that at a slower pace than before, because their previous efforts have won them back some market credibility, the EU's top economic official said.   REUTERS/Yves Herman (BELGIUM - Tags: POLITICS BUSINESS)...I
Economic and Monetary Affairs Commissioner Olli Rehn

IRELAND has formally begun the process of exiting the bailout, writes Niall O'Connor.

The three-year arrangement with the European Commission and European Central Bank officially expired yesterday.

The second part of the bailout agreement – struck with the International Monetary Fund is scheduled to end on Sunday.

It is hoped the bailout exit will trigger a positive response from the reputable Moody's rating agency.

The Government is due to hold a special event on Friday to mark the bailout exit.

Irish Independent

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