Troika gone, but tight rein to be kept on spending

Ireland is free of the troika but not of austerity as the Government warns a tight rein will continue to be kept on spending in the years ahead.

The country yesterday successfully passed the final review under the terms of the bailout, meeting all the financial targets agreed with the European Commission, ECB, and IMF.

However, while the three years of close monitoring by the three funding bodies is effectively over, pending an official exit date of Dec 15, Finance Minister Michael Noonan said it would be business as usual when it comes to keeping spending under control.