Noonan wants post-bailout credit

The Minister for Finance Michael Noonan wants a credit line in place for when the country exits the EU/IMF bailout programme in November.

“I would like us to get back into the markets at low interest rates and that we will have some type of credit line, which if we needed it would act as a backstop or a guarantee to the markets that we are a safe bet to the markets that we are a safe bet to lend to at low interest rates,” the minister told reporters at an event in the Irish Stock Exchange.

So far, there has only been preliminary talks on what a credit line might look like. “There was a general discussion [with the Troika] on an exit strategy, but we will not conclude talks on exit strategies until the autumn — after the German elections,” said Mr Noonan.