Aspects of Ireland's 2010 - 13 EU-IMF Program

Prepared statement for the Committee of Inquiry into the Banking Crisis, a joint committee of the Houses of the Oireachtas, Ireland.

September 10, 2015

In a statement for Ireland's Parliamentary Committee of Inquiry into the Banking Crisis, which covers various aspects of Ireland's 2010–13 EU-IMF program, Ajai Chopra assesses program financing, debt sustainability, burden sharing with senior bank creditors, banking sector profitability and distressed debt, the fiscal adjustment path, Eurosystem liquidity support and the pace of bank deleveraging, and extinguishing emergency liquidity assistance. He also delves into the social consequences of the program, post-program fiscal consolidation needs, and risks facing Ireland.