A spokesman for the European Commission has said that speculation about a potential second bailout for Ireland was "not helpful" given that the first programme was delivering and that Ireland had enjoyed positive growth in 2011.
Amadeu Altafaj, spokesman for Commissioner Olli Rehn, was responding to remarks yesterday by Citigroup chief economist Willem Buiter.
Mr Altafaj said that Ireland had showed strong progress in export growth, banking sector reform, structural reform and in its general fiscal position.
"It is not particularly useful to open a public debate on a successor programme when the first programme is delivering," he told the European Commission's daily news briefing.
Officials from the International Monetary Fund, European Central Bank and European Commission today began the fifth review of its loan programme to Ireland.
As part of its visit the delegation will examine the country's economic figures for last year, while also sketching out what targets it wishes to see the Government meet over the next three months.
The mission kicked off with the Troika meeting the outgoing Department of Finance Secretary General Kevin Cardiff.
NAMA Chief Executive Brendan McDonagh and NTMA Chief Executive John Corrigan were present at the meeting. Two officials from the Central Bank also met the Troika.
The latest quarterly visit by the Troika comes as scrutiny of the eurozone crisis is set to intensify.
Spain and Italy are due to hold key bond auctions this week as both countries struggle to raise money as a result of market uncertainty.
Rome's cost of borrowing has remained stubbornly above 7% over recent weeks and analysts warn it cannot continue to refinance its debts at such punitive rates indefinitely.
However, it is vital that Italy continues to borrow from the markets as the Troika does not have pockets deep enough to bailout the country.
Meanwhile, Goodbody Stockbrokers has lowered its forecasts for the Irish economy this year in its latest report.
After recent disappointing official figures for the third quarter from the CSO, Goodbody now believes gross domestic product will rise by just 0.7% this year, down from its previous 1.2% forecast.
Bank of Ireland economist Dan McLaughlin has predicted that the ECB will lower rates to 0.75% in the next few months.
He also said he expected the euro to remain between $1.25 and $1.30 in the coming months.
Sinn Fein leader Gerry Sdams has claimed that Ireland faces a series of international bailouts that will leave the country burdened for generations.
The Sinn Féin leader warned that any programme based on continued austerity would not work and said his party would continue to challenge the Government on the issue.
He was speaking ahead of a meeting of Sinn Féin TDs and Senators in Dublin.
