evidence: The economic and financial situation continues to strengthen. In 2014, Ireland became the fastest growing EU country as real GDP surged by 4.8%. Growth for the first three quarters of 2014 was primarily driven by net exports, in particular the strong trade links with the US and the UK, and by investment while private consumption started picking up towards the end of the year. The strongest rise in economic activity since 2007 reflects the policy efforts to rebalance the Irish economy. The property market continued to recover, with residential prices rising by 16.3% in 2014. In 2015 and 2016, economic growth is expected to remain buoyant at around 3½ %. Domestic demand is set to gradually replace net exports as the main growth driver. Interest rates on government bonds have fallen to new lows, which helped accelerate the early replacement of most outstanding IMF credits through market issuances. [...] Overall, progress towards rebalancing the Irish economy has continued, also reflected in the strong rebound of economic growth. Nonetheless, the legacies of the crisis demand further continued and determined policy efforts, in particular in the areas of fiscal adjustment, financial sector repair and restructuring.