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Sun 15 Dec 2013

Ireland exits bailout program after positive Troika review

Flickr-Rennett Stowe

Ireland exits its bailout program following the latest positive review of its economy by the Troika and the reimbursement of €2.6 billion released in February. 

"Ireland's strong track record of programme implementation has been maintained, contributing to substantial improvements in market access and conditions for the sovereign and also -- albeit more moderately -- for the banks," the group comprising the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission said in early February. 

On February 7, Ireland reached a landmark deal with the ECB to restructure the large debt of the former Anglo Irish Bank, easing thus the pressure on Dublin.

Ireland asked for a rescue package worth €85 billion in late 2010. - Ireland on course to exit bailout in December on 2013-12-12 - Ireland to exit international bailout in December on 2013-12-12

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