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“Sources in Brussels now expect Ireland to exit the bailout without a backstop in place”, reports The Irish Times.
Three years after the country’s formal request for financial assistance from the EU and the IMF, there has been speculation about Ireland’s return to financial markets and whether it will be accompanied by a “backstop” or a “precautionary credit line” from the EU.
The daily explains that in Brussels —
Officials believe that if Ireland deploys a one-year credit line, it will confront the same issue of market confidence when that credit line expires in a year’s time […] With market conditions currently favourable, and Irish bond yields hovering at 3.5 per cent, it is seen as preferable for Ireland to return to fully fledged market financing now rather than at a later juncture.
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