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.


More in this Section

Councillor among three charged with criminal damage over street names

900 diagnosed annually with alcohol-related cancer: HSE

Ireland is eighth most expensive globally for broadband

Semen on child’s top matched accused, court hears


Breaking Stories

Man goes on trial for sexual assault of woman he met on Tinder

High Court approves €15m settlement for boy who suffered irreversible brain damage during birth

St Patrick's Mental Health Services confirms it received official complaint in relation to Al Porter

Limerick Gardaí attend scene of suspect device

Lifestyle

Making Cents: Black Friday is an opportunity - but be careful

Dishing out the chores

Quietly successful: Meet the man behind ECM Records

More From The Irish Examiner