Expert claims Ireland ‘will survive crisis without EU or IMF support’

AS the cost of Irish borrowing fell yesterday a leading Irish economist said he expects the economy will survive the current crisis without having to resort to EU or IMF support.

Brian Devine, chief economist, NCB Stockbrokers, said in the short-term “we see a negligible chance of Ireland having to restructure its debt”.

Mr Devine said “we believe, regardless of whether it can re-enter the market on its own two feet, or with the assistance of the European Financial Stability Facility and IMF, Ireland will make good on all its debt maturing in that period.”