‘Post-bailout credit safety net sought’

Ireland aims to secure a precautionary credit line later this year to smooth its exit from an international bailout, and wants any conditions focused solely on its still-troubled banks, a Government source said yesterday.

Rescued by Europe and the IMF in late 2010, the country is on course to become the first eurozone country to wean itself off emergency assistance.

Talks with the troika of lenders — the IMF, European Commission and European Central Bank — have now turned to what kind of safety net would help ease the country’s transition back to funding itself in international bond markets.