Credit line for bailout exit ‘likely’

The Government will more than likely agree some sort of precautionary credit line prior to exiting the EU/IMF bailout programme in December, according to two of the big credit ratings agencies.

In separate interviews with the Wall Street Journal, Kristin Lindow, a senior vice president at Moody’s, said Ireland was in a position to go it alone, although it would be more prudent to negotiate some sort of backstop.

“The Government could choose to go it alone and not have a credit line and that would probably work out just fine. But since the world is an uncertain place and because the Government is reasonably cautious I do not expect them to do that.