Life After Bailout: Ireland Escapes ‘Shackles’ Of Troika Lenders – 15 December 2013

RT logoIreland has pulled out of the IMF/EU bailout program, making it the first nation to work its way free of rescue loans. However, the country has yet to break free from the strict austerity measures which have characterized the bailout period.

Prime Minister Enda Kenny will be addressing the nation in a landmark speech at 21:30 GMT on national channel RTÉ One, as the three year program draws to a close. He is expected to thank the nation and commend its efforts through the austerity period. The strict austerity measures were imposed to meet the conditions and targets of the 85 billion euro loan.

The Troika – consisting of the IMF, European Central Bank, and European Commission – has carried out 12 intense reviews since Ireland began receiving the bailout money, in order to make sure the country was toeing the line.

The nation of 4.6 million people has been suffering from rampant unemployment and tax increases. Emigration spiked in recent months, with 75,800 people between the ages of 15 and 44 choosing to leave the country last year.

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