Rehn confirms European Commission to continue to monitor Ireland post-bailout

Monday 09 December 2013 22.27
Olli Rehn said there would be two missions annually of visiting economists
Olli Rehn said there would be two missions annually of visiting economists

The European Commission has confirmed it will continue surveillance of Ireland's economic performance after the bailout until 75% of its bailout loans are repaid.

At a press conference, Commissioner Olli Rehn said there would be two missions annually of visiting economists.

Mr Rehn praised Ireland and said the successful conclusion of the loan agreement showed "an adjustment programme had a beginning and an end".

Klaus Regling, head of the EFSF bailout fund, said he would be continuing surveillance until all the loans from his fund were repaid.

He said it was "unlikely" Ireland would secure a deal that would result in the European Stability Mechanism recapitalising Irish banks.

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