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Joan Burton: We are still going to be heavily overseen by the Troika

The Minister for Social Protection has told it will not be “return to boom time instantly” when the EU/IMF programme ends later this month.

Updated 8pm

SOCIAL PROTECTION MINISTER Joan Burton has admitted that Ireland will still be heavily overseen by the Troika when the bailout programme officially ends in two weeks.

Speaking to at the Labour Party’s national conference in Killarney last night, Burton insisted that exiting the bailout “is very good news for people”, but does not mean “we’re back into boom time instantly or anything like that”.

She said we will “still be of course heavily overseen by the Troika in terms of the IMF making two visits next year” as well as the EU’s two-pack and six-pack agreements, which set stringent targets on EU nations’ deficit and spending.

Burton said that exiting the bailout meant that bond yields are coming down, the European Investment Bank is lending to Ireland for infrastructure projects and “slowly but surely Irish businesses are getting back on their feet”.

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- First published 8.10am

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About the author:

Hugh O'Connell

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