While some countries are looking forward to get another aid package or favorable loans, others, on the contrary, cannot wait to pay off all the debts to give a new start for economy. Thus, Ireland became the first state to announce the exit from the EU and IMF bailout program after considering all pros and cons. No debts means no monitoring and supervision of the international lenders. Ireland’s finance minister Michael Noonan underscored the significance of such decision and pledged the government to adhere to fiscal discipline. Besides, the senior official paid tribute to the Irish people as “they have had their taxes increased, they have had their services cut drastically” due to austerity measures. However, the government has to complete even the harder work – it aims to encourage job creation and steady growth of economic indicators on its own efforts. Cabinet ministers took this crucial decision in the middle of November. In December, the European rescue scheme ends formally for Ireland. Now the country lacks a precautionary credit line used as a rescue scheme in case of financial crisis.
