Financial publication The Banker magazine has named Michael Noonan as the European Finance Minister of the Year for the “Extraordinary progress” made in improving Ireland’s economy.
The Financial Times-owned magazine said Mr. Noonan has successfully overseen a number of significant milestones in 2013, including Ireland’s bailout exit, the Anglo Irish Bank promissory note deal and the rention of the 9% VAT rate for the hospitality sector.
Explaining the award, the magazine’s editorial stated that while “No one is under any illusion about the challenges still facing Ireland,” Noonan has regardless made “Extraordinary progress”.
A key part of the decision was Ireland’s re-rentry into the bond market, along with expectations in 2014 of economic growth and improving unemployment figures. The article also noted that the government “Remain committed to returning the banking sector to full private ownership”.
The magazine named Mexico’s Luis Videgaray as overall Finance Minister of the Year.