Troika in Ireland for final bailout review

FXstreet.com (Barcelona) - The IMF, EU and ECB inspectors have arrived in Dublin today for the twelfth and last review of the Irish rescue program, which the country is due to exit in December. The Troika officials will try to determine whether there would be a need to provide a precautionary credit line to Ireland, once the program has expired.

Irish Minister for Finance Michael Noonan, currently visiting Washington, said after a meeting with IMF’s top officials that “the option of not having a program is still a strong option.”

“It’s still an open question. It’s finely balanced . . . We’re funded into 2015 so we’re not taking a big risk to go it alone,” he suggested, adding that the decision would be made after a new government is built in Germany.

In the light of the still uncertain economic situation in the Eurozone and Ireland's own continuing problems with the elevated debt-to-GDP ratio and excessive unemployment, the precautionary credit line is still a viable possibility.

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