Bailout may be ending but troika going nowhere
FINANCE Minister Michael Noonan has appeared very relaxed about the end of the bailout this December. At times over the last few months, Mr Noonan looked a little too relaxed, but he seems to have things under control judging by his assertion yesterday that Europe will provide Ireland with a €10bn safety net by the end of the year.
The new figure, which was not in the prepared text of Mr Noonan's speech but mentioned in passing, suggests that the figure has already been okayed with our European bailout partners, even if the final agreement must wait until the German elections are over.
None of us yet know what conditions will be attached to this €10bn insurance.