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14	November 2018

Brendan Howlin said the fortitude and forbearance of Irish people

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DUBLIN, Dec. 13 (Xinhua) -- Ireland's Minister for Finance Michael Noonan said on Friday his country has successfully completed its EUIMF bailout, but he warned the exit from the bailout is not "the end of the road."

"This is a very significant milestone on the road," he said at Government Buildings, warning that "we can't go mad again."

On Sunday evening, the bailout will formally expire, making Ireland the first eurozone country to exit a stringent bailout program.

Noonan also added that the government must continue with the same types of policies, as the country's deficit is still too high.

Ireland had the third biggest deficit in the EU last year at 8.2 percent, according to new figures from Eurostat on Monday. The EU statistical office showed Ireland also had the fourth largest debt to GDP ratio last year at 117.4 percent.

He said the real heroes of the past three years are the Irish people who have seen taxes increased and services cut, adding that the government's dual objective is to grow the economy and create jobs.

"The people who suffered most are those who lost their jobs," he said.

Meanwhile, Minister for Public Expenditure and Reform Brendan Howlin said the fortitude and forbearance of Irish people throughout the bailout program has been commendable.

He said there were times when the government had concerns about whether Ireland would reach the end of the bailout program.

"We have much greater control of our own destiny into the future and that is a huge testament to the fortitude and forbearance of the people of Ireland, who rolled up their sleeves and understood that a job of work had to be done to put things right for themselves and for their children," Howlin said.

During the three years of bailout, there were four and a half months of meetings which were held with Troika officials. Up to 260 program actions were completed.

The Troika has conducted a total of 12 review missions, all declaring that Ireland's implementation of the program is on track.

Now the yield on government bonds stood at 3.5 percent, down from a peak of 14.5 percent. Unemployment stood at 12.8 percent in the third quarter of 2013. The unemployment rate is now at its lowest level since 2009.

Last month, Ireland decided to exit the bailout on Dec. 15, without the need to prearrange a new precautionary credit line from EU and IMF partners, but it warned there was still some way t. Myles Jack Jersey Authentic Mitchell Trubisky Jersey Authentic Minkah Fitzpatrick Jersey Authentic Le'Veon Bell Jersey Authentic Lamar Jackson Jersey Authentic Khalil Mack Jersey Kareem Hunt Womens Jersey Julio Jones Kids Jersey JuJu Smith-Schuster Steelers Jersey Jimmy Garoppolo 49ers Jersey