After going South, Ireland heading back to the heart of Eurozone - BlackRock
Ireland is on the verge of leaving the so-called "periphery" of the Eurozone that has seen it lumped in with Greece and other troubled economies, according to BlackRock - one of the world's biggest asset managers.
The company noted how much Ireland's borrowing costs have reduced since the peak of the crisis. Bond yields have fallen to 1.4pc from a peak of 14.2pc during the financial crisis.
Ireland has traditionally been viewed as one of the so-called periphery countries during the crisis years, along with crisis-hit Portugal, Greece and Spain.
Ireland was were forced into a bailout in late 2010 under then Taoiseach Brian Cowen because the cost of borrowing money on the international money markets had become too expensive.
But by the time the country had left the three-year International Monetary Fund (IMF), European Commission and European Central Bank bailout in December, 2013, borrowing costs had come down "If you look at the economic growth in Ireland, if you look at the progress, you could almost make the case that Ireland is on the way to leave the peripheral status and be more regarded as a semi core in the future," Michael Krautzberger, head of euro fixed income at BlackRock, said.
A report looking back on the bailout released last week from the European Commission found that the bank guarantee of 2008 was "too generous" and played a major part in turning a financial crisis into a sovereign debt crisis. The report also said that while the negotiations on the 2010 bailout were completed within a week of a request being made, discussions between the then Fianna Fail/Green Party government and the IMF, European Central Bank and European Commission had been going on for three months.
Government ministers at the time denied any negotiations were taking place.