Former IMF deputy contradicts Burton's bailout claim28/10/2012 - 14:34:18
A former deputy director of the IMF has warned that it is unlikely Ireland will be in a fit state to exit its bailout programme next year.
His comments completely contradict suggestions made by the Social Protection Minister Joan Burton, who said yesterday that Ireland is well-placed to exit the bailout programme sooner than expected.
Donal Donovan, now a member of the Fiscal Advisory Council, claimed it is highly unlikely that we will see the back of the Troika in a short period of time.
He says it is much more likely that Ireland will enter a much less invasive programme in 2014 to make the bailout exit smoother.
"Much more likely is some kind of precautionary set up where we go back into the bond markets, as we make the transition from January 1 of the year after next to a solid place with official financing there as a back-up.
"This will probably mean some kind of a programme but probably a less intrusive sort of a programme."
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