Ireland will receive a bailout package if they implement legal reforms regionales
The EU, in collaboration with the European Central Bank and the International Monetary Fund, still has some bargaining power over the Republic in the form of the bailout package. The €85 bn loan runs out in mid-December with the consequence that the three bodies, the Troika, are making efforts now to get Ireland to implement its reforms.
A controversial Legal Services Legislation Bill was unveiled in 2011 but has met widespread opposition. It includes some clauses on fees - although some doubt that it would lower the cost of going to law, as the EU intends. Inspectors from the Troika are said to be unhappy with progress here. 'It’s not enough only to publish the legislation, it needs to be implemented,' one source told The Irish Times. The inspectors are also pushing for progress on banking and the health sector.