Report on the second post-programme surveillance review for Ireland, and on recent economic developments and outlook for Ireland.

European Commission and European Central Bank officials visited Ireland between 17 and 21 November 2014 for the second review of Ireland’s economic situation since the conclusion of the country’s EU Financial Assistance Programme in December 2013.

The visit was conducted in coordination with the International Monetary Fund’s post-programme monitoring exercise and took place with the participation of staff from the Single Supervisory Mechanism and the Central Bank of Ireland.

This report summarises the main findings of the review and presents an overview of Ireland’s remaining economic challenges. The report finds that Ireland still faces a number of significant economic challenges including high levels of public and private debt, unemployment and non-performing loans.