The troika shot down any prospect of Ireland burning the bondholders in late-2010 and warned such a move would cancel any possibility of a future bailout, a senior Government adviser during the crisis has confirmed.

The European Central Bank has pulled out of any involvement in the bank inquiry after public claims its comments could be used as evidence instead of an “informal exchange of views” — and private fears any participation could see it dragged before Greek politicians at a later date.

The delayed release of the banking inquiry’s final report until next year has prompted fears that any further setbacks could collapse the probe if an early general election is called.

The IMF has said that Ireland could have saved billions of euro if it had been allowed to burn the bondholders at some of its banks.

As he looked out on the snow at Brussels airport after a crisis meeting in Nov 2010, then finance minister Brian Lenihan sat alone and concluded: “Hell is at the gates.”

European Stability Mechanism (ESM) funds should be used to recapitalise banks, including Irish banks, as part of an EU-wide Banking Union, IMF mission chief to Ireland, Ajai Chopra, told a conference in Dublin.

A common regulatory system for troubled banks across the world will be the main topic up for discussion, at a banking conference in the capital today.

The late finance minister, Brian Lenihan, resisted pressure to accept a bailout until the final minute and hinted he did so because of pressure from the ECB.

THE Boss blew into town and left a trail of devastation in his wake,

Social welfare benefits are too high in Ireland and need to be revised to encourage people back to work, the International Monetary Fund (IMF) has said.

IRELAND will not succeed in lowering its budget deficit to the targeted 3% of GDP level by 2015, according to Goodbody Stockbrokers.

The IMF has warned that a failure to address the crisis in the euro could set back Ireland's hard-won gains since entering the bailout.

THE Government is still hopeful of keeping next year’s budgetary adjustment target at €3.6 billion, but said that any increase that might be made will be “marginal”.

THE head of the European Commission review team to Ireland has hit out at the size of medical fees here, saying he would pay half as much to see a GP in Brussels.

IT is little compensation to a cart horse being flogged by its driver that they are nearing their destination but, if it could, it might take some hope from the notion that once they arrive the flogging might stop.

The Republic of Ireland’s bail-out bosses have warned everyone must take their share of pain if the country is to make a recovery.

“THE real function of a fiscal council is to speak truth to power, to remind governments of harsh economic facts they may not want to hear, when they least want to hear them — at budget and election time. How will the Coalition Government respond in deed to the bold advice given by the newly established Irish Fiscal Advisory Council?”

TALLAGHT: Robert Roberts, one of Ireland’s oldest businesses, has announced deals worth almost €1m with local suppliers.

THE EU needs to rapidly implement a solution to the eurozone debt crisis to stop the contagious effects on countries like Ireland, the IMF has warned.

THE troika said “there was no target that was not met” by Ireland in complying with its bailout terms — but warned of challenges to come.

There was no quick response, as an economic problem became political

The head of the IMF mission to Ireland Ajai Chopra said today that the country should be judged on its own merits.

BACKROOM discussions between EU and IMF officials and the Government will focus on what measures are planned ahead of a tough budget at the end of the year.

I NOTE that Ajai Chopra has stated that, for us in Ireland, “it is an Irish solution to an Irish problem”.

LAWYERS are facing an assault on their fees while the medical and pharmacy sectors will also be targeted for cost reductions under the EU/IMF bailout.

A “PHASING OUT” of social welfare payments for the long-term unemployed as an incentive for them to return to work is being considered as part of Ireland’s EU/IMF bailout deal.

TAOISEACH Enda Kenny emphasised that actions are being taken to restore economic confidence. The fluctuations of the rating agencies are a reflection of a lack of international confidence, but this also applies within the country itself.

European officials have denied Ireland is being threatened to repay all the global money men owed billions by the country‘s bailed-out banks.

NEGOTIATIONS will begin in earnest today with the EU and IMF on restoring the minimum wage, cutting the lower VAT rate and increasing mortgage interest relief for first-time buyers.

FORGET the hysteria surrounding the up-coming visit by Queen Elizabeth — she’s so last empire — our new colonial lords and masters, the EU/IMF troika, are already in town, and how we bow and scrape at their approach.

FROM Ajai Chopra and Olli Rehn to Barack Obama and now the Queen — our visitors’ book is showing gradual signs of improvement.

A meeting is underway at the Department of Finance between the head of the IMF mission to Ireland Ajai Chopra and ministers Michael Noonan and Brendan Howlin.

The head of the IMF mission to Ireland is to meet the Finance Minister Michael Noonan and the Minister for Public Expenditure Brendan Howlin today.

THE downgrade by Fitch of Irish debt is a further reminder that the EU/IMF bailout has not ended the speculation about the ability of the economy to cope.

Tourism Minister Mary Hanifin has insisted that the IMF European loan deal for Ireland gives certainty and confidence to the country.

THE country is facing crippling interest payments of €10 billion a year after the European Union and IMF agreed to an €85bn rescue package to fund the economy for the next three years.

AJAI CHOPRA who led the IMF’s negotiations on Ireland’s bailout and who has a reputation as a fearsome negotiator said he thought the long-term outlook for Ireland was good given his experience in dealing with other stricken economies.

THIS weekend we may see the first outline of what Ireland’s most powerful man, Indo-Canadian Ajai Chopra, the IMF deputy director of the European Department, has in mind as he attempts to restructure an economy suffering from meltdown.

Taoiseach Brian Cowen confirmed today the State is negotiating an €85bn bailout loan from the International Monetary Fund and Europe (IMF/EU).

THE contract being negotiated by the Government with the EU, ECB and IMF will bind whatever government is in power, since it is an agreement with the state, the European Commission has confirmed.

ROLL up! Roll up! Reduced ramshackle Republic for sale! No offer too small, or too humiliating for consideration.

IF a result of the IMF intervention is the deferral of politicians’ pensions until they reach 65 and a massive reduction in civil servants’ pensions, then I for one will welcome Ajai Chopra and his team with open arms.

A new position paper has given an insight to the areas the IMF could target in their proposals to get Ireland's economy back on track.

THE only sign of political self-delusion more stark than Brian Cowen’s insistence on staying on in office, is his belief that in so doing he is putting the “national interest” ahead of all personal or political concerns.