Ireland will go it alone next month when the country makes a clean break from its international bailout program.
Although the country's bailout program has cost $91billion (€67.5billion), it is regarded as the best-performing of the four bailed-out EU countries - the others are Greece, Portugal and Cyprus.
However, concern has been raised that the Irish government has decided to exit the bailout program without the back-up of a precautionary credit line in place.
The recession-hit country's banks are still struggling under a mountain of debt incurred during the property bubble that triggered the country's economic collapse - and, according to The New York Times, extra capital may still be needed.
However, Prime Minister Enda Kenny said he was confident Ireland would make a full return to economic sovereignty without the need for a special credit line.
He said: "This is the right decision for Ireland and now is the right time to take this decision.
"This is the latest in a series of steps to return Ireland to normal economic, budgetary and funding conditions."
Within the eurozone, there has been huge debate over whether Ireland should request a credit line.
It had been argued that a credit safety net would come with stringent conditions and set a precedent, making it easier for other bailed-out countries to exit their programs.
Irish apple crumble cake recipe