24 April 2014

FT ranks Noonan as 5th best finance minister in EU

07:07, Post Reporter

Michael Noonan is the fifth best finance minister in Europe, according to a new ranking published in the Financial Times newspaper.

The list ranks the leading EU finance ministers in terms of financial performance, political ability as well as credibility in the markets.

The FT noted that under Noonan's stewardship, yields on Ireland's benchmark bonds have fallen from 15 per cent in July 2011 to below five per cent.

It also noted he faced big challenges with gross debt levels "dangerously high".

Germany's Wolfgang Schaeuble topped the list of 19 finance ministers, followed by Anders Borg of Sweden, Jacek Rostowski of Poland and Jutta Urpilainen of Finland.

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