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Monday 22 January 2018

Enda Kenny: Exiting bailout without backstop is right decision for Ireland

Minister Michael Noonan is recommending to ministers that the country exits bailout without an overdraft facility
Minister Michael Noonan is recommending to ministers that the country exits bailout without an overdraft facility

TAOISEACH Enda Kenny said today the decision to exit the bailout on December 15 was the right one for Ireland.

Announcing the decision in the Dail today, he said: "This is the right decision for Ireland, and now is the right time to take this decision.

"This is the latest in a series of steps to return Ireland to normal economic, budgetary and funding conditions. Like most other sovereign eurozone countries, from 2014 we will be in a position to fund ourselves normally on the markets."

Earlier Finance Minister Michael Noonan recommended the move.

 A special Cabinet meeting took place in Government Buildings to make a decision on the bailout exit strategy.

The coalition has been expected to make a clean exit from the bailout, without taking up an overdraft facility.

Minister Noonan is due to attend a meeting of EU finance ministers in Brussels, where an announcement is also expected to be made.

Ahead of the meeting, Dutch Finance Minister Jeroen Dijsselbloem, the chair of the Eurogroup, signalled the possibility of decisions being discussed at the meeting.

The time of the statement in the Dail is not yet clear, but it is expected around noon or lunchtime.

 

Watch the live stream from the Dail

 

Irish Independent

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