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The IMF's current representative in Ireland, Peter Breuer leave the Merrion Hotel in Dublin. Laura Hutton/Photocall Ireland

Troika report card: 'Steadfast implementation' but watch for health and mortgages

Budget figures remain on track but “spending control must be maintained, in particular in the healthcare sector” say the EU, ECB and IMF.

THE TROIKA MAY have officially completed their final review of Ireland’s bailout programme but they weren’t slow giving some advice as they finished up.

“The implementation of the programme, which will expire in the coming months, has been steadfast, ” an official statement issued by the European Commission, the ECB and IMF said today.

The Troika sounded one major warning, however, and it focused squarely on the health service. They say that budget figures remained on track to October but that “spending control must be maintained, in particular in the healthcare sector.”

Echoing the continued debate surrounding the feasibility of saving in the Department of Health, the Troika sounded a note of concern, “Realising the proposed savings in health expenditure, while protecting core services, will require particular attention”.

The second area of continued concern for the Troika was a call for a durable resolution of mortgages in arrears. They called on the banks to do more:

The introduction of a target regime for arrears resolution has been helpful, but greater efforts are required by banks to find long-term sustainable solutions for borrowers in genuine mortgage distress. In other arrears cases, there is a need to restore full debt service payments.

Credit facility

The Troika were giving very little away about post-bailout financing options for Ireland, merely saying that “discussions continued” on “related options following the expiry of the current EU-IMF arrangements.”

The conclusion of this twelfth Troika review would allow for the disbursement to Ireland of the final €1.4 billion of loans under the bailout arrangement.

The Troika issues a positive not on Ireland’s growth prospects saying that Ireland’s economy has been growing above the euro area average since 2011 and is on target to record low growth in 2013.

Read: The reviews are over but we may not leave for “a number of years” — IMF Mission Chief >

Read: After 12 reviews and at least a few “discordant words,” Noonan and Howlin bid farewell to the troika >

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47 Comments
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    Mute Paul Heffernan
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    Aug 26th 2013, 10:20 AM

    Mains pipes in Limerick must be in a bad way. I work on the Ballysimon Road in Limerick and the amount of times the mains pipe on this road has burst is nuts.

    46
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    Mute Antonov Merinov
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    Aug 26th 2013, 10:35 AM

    By the looks of that pipe I bet the Romans had a better water supply.

    48
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    Mute Goebong
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    Aug 26th 2013, 10:37 AM

    Well done limerick country council great work getting the water supply back on do quick

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    Mute Carcu Sidub
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    Aug 26th 2013, 12:21 PM

    Goebong.

    Am I reading your comment correct?

    Are you congragulating Limerick CITY council for actually doing the job they are being paid to do?

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    Mute Goebong
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    Aug 26th 2013, 1:51 PM

    Yes they done a great job water back on within hours great job people could have had no water all day

    17
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    Mute Carcu Sidub
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    Aug 26th 2013, 2:06 PM

    Goebung

    Thanks for confirming that we need to congragulate council workers for actually working.

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    Mute Goebong
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    Aug 26th 2013, 2:27 PM

    So what do want to give out to them for doing a good job stop being so negative

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    Mute Carcu Sidub
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    Aug 26th 2013, 3:40 PM

    Goebung

    Dont worry this time next year when their all transfered to Irish Water they will be too busy fixing water meters to have time to fix leaks, then you’ll be giving out.

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    Mute Donal O Neil
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    Aug 26th 2013, 3:48 PM

    It probably was a roman made pipe from roman times

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    Mute Robert Kelly
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    Aug 26th 2013, 12:10 PM

    Is that a stock photo of some pipe that leaked or a photo of water pipes typical of Limerick?

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    Mute Carcu Sidub
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    Aug 26th 2013, 12:23 PM

    Robert

    That is a stock photo. Howeveer it could also be a photo of typical water pipes anywhere in the country. Some water pipes have been repaired so often the councils would have paid 10 times less to actually replace them altogether.

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    Mute Bluemist
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    Aug 26th 2013, 10:37 AM

    That’s the council “engineers” for you

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    Mute Larry T Bird
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    Aug 26th 2013, 1:16 PM

    The pipe wil need to be fixed and stay fixed, as all the wh0res will need their weekly wash after the weekend

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    Mute Donal O'Byrne
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    Aug 26th 2013, 7:51 PM

    I guess the customers don’t wash at all?

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    Mute Ash
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    Aug 26th 2013, 1:52 PM

    Bit of plumbers mate… She’ll be grand….!

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    Mute Donncha Burke
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    Aug 26th 2013, 12:36 PM

    Do they use wooden pipes as in pic?

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    Mute Catherine Sims
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    Aug 26th 2013, 12:49 PM

    Pipes my side spear to burst a lot as well as the water is often off for repairs.

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