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Sun 15 Dec 2013

Ireland exits bailout program after positive Troika review

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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