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Ireland’s bailout exit: important lessons to be learned for Troika, argues Irish Minister for European Affairs

February 18, 2014 - Financial & Competition

In an exclusive interview with viEUws, Paschal Donohoe, Minister for European Affairs of Ireland, talks to John Rega, Chief Correspondent MLex FS, about Ireland post-bailout.

Donohoe takes a look at where Ireland stands now, after the country left the EU-IMF bailout programme in December 2013. In this interview, the Irish Minister for European Affairs discusses the steps that the government has taken to restore the Irish economy and points out the biggest challenges that lie ahead: “financial market confidence and stability, the improvement of macroeconomic performance, and solving the high level of unemployment”. He also explains that one of the Ireland’s most important objectives is an agreement on robust banking union, which is being negotiated with the European Parliament.

The Irish Minister for European Affairs also looks back at Ireland’s experience with the troika. He concedes that the relationship with the Troika has not always been ejoyable. However, he underlines that important lessons have to be learned from this experience, in particular the fact that the Troika agreement to bring down interest rates was decisive in allowing Ireland to exit its bail-out programme.

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