IMF head: Ireland needs credit line

Once core tier-one capital is mentioned, most people turn off, and understandably so. Few subjects are duller than the capital structure of banks

3rd November, 2013
David Lipton, left, with Christine Lagarde, his superior at the IMF. Photo: Getty

Ireland needs a back-up credit line to guard against an economic emergency, according to David Lipton, the First Deputy Managing Director of the IMF.

Speaking to German news organisation Die Welt this weekend, Lipton said Ireland did not need another bailout. However, he said the country should still have back-up arrangements in place to supply funds if the economic situation deteriorates.

Lipton said that it was Ireland's decision as to whether it needed another bailout...

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