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Finance Minister to brief cabinet on bailout progress

The Finance Minister is expected to brief the Cabinet tomorrow on his discussions on the exit of ...
Newstalk
Newstalk

07.19 29 Oct 2013


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Finance Minister to brief cabi...

Finance Minister to brief cabinet on bailout progress

Newstalk
Newstalk

07.19 29 Oct 2013


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The Finance Minister is expected to brief the Cabinet tomorrow on his discussions on the exit of the bailout programme.

Officials from the Troika have arrived in Dublin for their final quarterly review, though some inspections will continue until all the money is paid back.

In the two weeks since the budget, Michael Noonan has been discussing the exit strategy with our bailout partners.

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After having talks with the European Commission and European Central Bank he concluded the talks with the IMF in Washington last night.

The Finance Minister will brief the Cabinet on the talks tomorrow, though a decision on whether we exit the programme with or without a precautionary credit line is not likely for another few weeks.

The coalition is thought to be leaning towards going it alone - as a backstop would mean a continuation of the 3-month visits by the Troika.

Even going it alone though doesn't mean we wave goodbye to the officials from the ECB/IMF & EC as scaled down reviews will still continue every six months until the loans are repaid.

Michael Brennan, Deputy Political Editor  of the Irish Independent, told Newstalk Breakfast earlier that Minister Noonan is likely privately and quietly checking out what the terms of any possible 'safety net loan' would be.

Michael McGrath of Fianna Fáil believes a precautionary credit line with less severe conditions is the best option.


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