Troika to keep eye on Ireland for 20 years

Ireland is likely to be under surveillance from the troika and the ESM for the next 20 years.

Finance Minister Michael Noonan: acknowledged there will be extra surveillance

Finance Minister Michael Noonan acknowledged that until 75% of the €67.5bn loans are paid, there will be extra surveillance to make sure the country is “not going down the wrong road”.

While congratulations flooded in from member states for Ireland’s clean exit, German Chancellor Angela Merkel, phoned Brussels to check if the Irish knew what they were doing, EU sources said.

One of the concerns is whether AIB and Permanent TSB will pass the stress test next autumn because, if they need extra money, they may have to turn to the State.

However, Mr Noonan was adamant this would not be the case. “There is not a shred of evidence that there is any additional capital reserves needed by the Irish banks,” he said.

“The Irish economy is not going to fail. We have strong banks and we will make them stronger.”

Portugal was far from happy about Ireland’s clean exit. Now it will have to negotiate a credit line on its own.

© Irish Examiner Ltd. All rights reserved

Email Updates

Receive our lunchtime briefing straight to your inbox

More in this Section

Multimillion-euro plan set to secure nation’s energy supply for decades

Ireland in ‘Coalition to Defeat Isis’: US

Men remanded in custody over multiple robberies

Closure of Dublin crèche leaves 50 families in the lurch


Breaking Stories

Children waiting 18 months to see cardiologists

Gardaí renew appeal for missing 16 -year-old Yu Xin Li

Virtual reality headsets for patients at St James Hospital

Irish Equality Commission welcome new MyHome.ie procedures on property ads

Lifestyle

Ask Audrey: The new girlfriend is mad for us to try make-up sex. Where is a good place to buy make-up?

In the name of love...for U2

How to make office wear work for you this summer

More From The Irish Examiner