Credit line details to be decided

A decision on what type of precautionary credit line could be extended to Ireland will be made before the country exits the bailout programme in November, the president of the ECB, Mario Draghi, said at its monthly meeting.

He noted Ireland had met the full terms of its programme and had made good progress in its fiscal adjustment, “but challenges remain in the financial sector.”

Earlier yesterday, the head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, told the European Parliament that Ireland would get support when it exits the bailout programme, although he declined to provide details.