ECB team who worked on Ireland's bailout congratulates Government

The ECB programme team who worked with Ireland on its bailout has congratulated the government.

Officials from the bank said the triple protection of private funding, domestic rescue funds and the ESM provide credible backstops for Ireland on its exit from the bailout.

Troika member and ECB board member Jörg Asmussen spoke to reporters on his way into a meeting of Eurozone finance ministers in Brussels this morning.

"On behalf of the ECB staff who was involved in the programme implementation, I really want to congratulate Ireland and Spain for what they have achieved and that they can exit the programme," he said.

"In our view, that really shows [that] despite the criticism, the adjustment programmes can work."