Ireland to Be 1st in Eurozone to Exit Bailout

By end of year as the country passes its latest EU/IMF test

By Arden Dier,  Newser Staff

Posted Nov 7, 2013 8:53 AM CST

(Newser) – In "a much-needed success story" for the EU, Ireland looks on course to become the first eurozone country to exit its bailout program—a $114 billion aid deal to be complete by the end of 2013, Reuters reports. The European Union and International Monetary Fund said the country had passed its latest test, successfully executing all of its obligations under the three-year deal. "This is a significant day that many thought, and some feared, would never be reached," Ireland's finance minister said, adding that Dublin will decide next month whether to take out a special line of credit to protect against renewed turmoil, the Irish Times reports.

Ireland Financial Minister Michael Noonan arrives at the conference center following an Informal European economic and financial affairs council in capital Nicosia, Cyprus, Friday, Sept. 14, 2012.   (AP Photo/Petros Karadjias)
A woman begs for money outside the European Union building in Dublin, Ireland, Wednesday, Nov. 17, 2010.   (AP Photo/Peter Morrison)
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