Brussels, 10/07/2012 (Agence Europe) - Eurogroup issued a statement on Tuesday 10 July 2012 to the effect that the troika of lenders (the European Commission, the IMF and the ECB) is making its seventh assessment of Ireland's structural adjustment programme. Euro Commissioner Olli Rehn said: “The Commission will take forward technical work on improving the sustainability of Ireland 's well-performing adjustment programme, in particular as regards its financial sector, together with our partners in the troika and the relevant Irish authorities. We will prepare concrete proposals for the Eurogroup to consider in September, with a view to reaching a final decision at the Eurogroup meeting in October”.
The decision will be welcomed by Ireland. Upon his arrival at the Eurogroup meeting, Irish Finance Minister Michael Noonan said he hoped agreement would be rapidly forthcoming on changes to the Irish bank bailout programme, adding that the main progress he was expecting was an indication of a timeframe. (EL/transl.fl)