Bittersweet: Loans repaid ahead of schedule

TUESDAY’S congratulations from Denmark, marking the fact that Ireland has repaid a €400m crisis loan several years earlier than expected, is a bittersweet endorsement of policies adopted — forced upon us might be a more accurate description — during the darkest days of the economic collapse.

In September, Minister for Finance Paschal Donohoe said Ireland was set to repay a debt of €0.6bn to Sweden and of €0.4bn Denmark early.

It is also intended that Ireland will repay €4.5bn to the IMF ahead of schedule.