Financial chiefs in favour of credit line

Corporate Ireland’s financial heads are overwhelmingly in favour of the Government agreeing a back-up credit line upon exiting the country’s bailout programme in December.

A full 100% of chief financial officers of the country’s largest companies said in a survey that they feel there is a need for the Government to seek a precautionary credit line from the European Stability Mechanism once the bailout programme runs its course on Dec 15.

The latest edition of the quarterly Deloitte CFO survey also found that 52% of finance directors feel the end of the bailout will have a positive effect on their business. While only 4% feel it will have a negative effect, as many as 44% say they have no strong opinion on the matter.