‘Irish post-bailout reforms needed’

Fiscal consolidation and structural reforms will have to continue for a number of years after Ireland exits the EU/IMF bailout programme at the end of 2013, according to Istvan Szekely, the European Commission’s mission chief for Ireland.

Speaking in Dublin yesterday, Mr Szekely said: “It was a concern that the level of credit in the economy is below when the programme started.”

He cited a number of reports in recent months that pointed to a lack of demand among companies looking for credit and problems with the banking system transmitting credit.