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10/01/2012
Troika Officials Review Bailout Agreement
Troika officials from the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Union (EU) are back in Ireland today to review its bailout agreement.
They will examine last month's budget and whether it can deliver the growth and taxes pledged for 2012.
Chief Economist, William Buiter, of international financial services giant Citigroup, said that the Government should negotiate a second loan agreement in the event of not being able to borrow from the markets later this year.
Speaking at the annual global research day in Dublin Mr Buiter said that Ireland, alongside Portugal and Greece should see further restructuring of its sovereign debt this year.
Ireland is currently repaying this loan at an interest rate of 6%.
Taoiseach Enda Kenny said he was confident that a positive resolution could be gained from the latest talks.
Mr Kenny also confirmed he will meet British prime minister David Cameron in Downing Street on Thursday to discuss the ongoing euro zone crisis.
(CD/GK)
They will examine last month's budget and whether it can deliver the growth and taxes pledged for 2012.
Chief Economist, William Buiter, of international financial services giant Citigroup, said that the Government should negotiate a second loan agreement in the event of not being able to borrow from the markets later this year.
Speaking at the annual global research day in Dublin Mr Buiter said that Ireland, alongside Portugal and Greece should see further restructuring of its sovereign debt this year.
Ireland is currently repaying this loan at an interest rate of 6%.
Taoiseach Enda Kenny said he was confident that a positive resolution could be gained from the latest talks.
Mr Kenny also confirmed he will meet British prime minister David Cameron in Downing Street on Thursday to discuss the ongoing euro zone crisis.
(CD/GK)
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Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
