Noonan to meet ECB Chief Draghi over bailout exit

Written By Unknown on Rabu, 23 Oktober 2013 | 22.40

Minister for Finance Michael Noonan will meet the President of the European Central Bank Mario Draghi later in Frankfurt to discuss Ireland's pending exit of the EU-IMF bailout.

Mr Noonan held what were termed constructive talks with the European Commission Vice President Olli Rehn in Strasbourg last night.

Away from the media, Mr Noonan and Mr Rehn held what were called exploratory talks on the options available to Ireland as it leaves the EU-IMF programme.

A major aspect of this is whether or not whether Ireland applies for a precautionary credit line to help ease the country's transition from bailout to raising money from the markets.

This subject will also be discussed when Mr Noonan meets the ECB President Mario Draghi in Frankfurt today. The minister will also meet officials from the International Monetary Fund later.

In a statement after last night's meeting, Commissioner Rehn said the final decision on post-programme options is one for the Irish authorities.

Yet a significant factor in determining the Government's approach would be what conditions the EU, ECB or IMF might seek to apply when offering any additional post-bailout support. 


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