Ireland and Spain are practically out of recession and have convinced the other countries of the Eurozone about the soundness of their bailout exit strategy. None of the two countries shall need a precautionary credit line when they exit the bailout program without any extra measures.

Greece, on the other hand, needs “political urgency” and will have to comply with a series of strict criteria, including structural reforms and progress on the privatisations program.

This was the main conclu...