DUBLIN (AP) — Ireland's government says the country will exit its international bailout agreement next month on its own and will not negotiate a new precautionary credit line.

Prime Minister Enda Kenny announced the move in Ireland's parliament ahead of a meeting of eurozone finance chiefs in Brussels later Thursday.

Kenny says Ireland will rely on its 25 billion euros ($34 billion) in emergency government reserves to reassure private investors that the country will be able to pay its creditors when the treasury returns to bond markets for financing next month.

Ireland was forced in November 2010 to negotiate a three-year loan deal with the European Union and International Monetary Fund after the state's own cost of borrowing soared to unsustainable highs. Ireland since has exceeded every EU-IMF target for reducing its deficits.

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From HSBC's 2013 Expat Explorer Survey
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  • No. 24: Ireland

    Economics rank: 36th Experience rank: 30th Raising children rank: 24th <em>A man walks into the Bank of Ireland on December 2, 2010 in Dublin, Ireland. (Photo by Peter Macdiarmid/Getty Images)</em>

  • No. 23: Italy

    Economics rank: 37th Experience rank: 28th Raising children rank: 17th <em>Students and the unemployed take part in a protest against austerity cuts and lack of jobs on November 17, 2011 in Naples, Italy. (Photo by Christopher Furlong/Getty Images)</em>

  • No. 22: United Kingdom

    Economics rank: 32nd Experience rank: 27th Raising children rank: 19th <em>British musicians Miss Dynamite (5th L) and Charlie Simpson (6th L) join unemployed young people as they stand in line outside a job centre in central London during a photocall for the Battlefront Campaign, raising awareness of the large number of young people who are currently unemployed in the UK on October 10, 2011. (LEON NEAL/AFP/Getty Images)</em>

  • No. 21: Kuwait

    Economics rank: 26th Experience rank: 34th Raising children rank: 18th <em>Kuwaiti Shiite MP Ahmed Lari leaves the national assembly in Kuwait City on June 16, 2013. (YASSER AL-ZAYYAT/AFP/Getty Images)</em>

  • No. 20: Spain

    Economics rank: 34th Experience rank: 9th Raising children rank: 9th <em>A Spanish football team supporter uses a Bankia Caja Madrid cash machine on June 10, 2012 in Madrid, Spain. (Photo by Pablo Blazquez Dominguez/Getty Images)</em>

  • No. 19: Saudi Arabia

    Economics rank: 15th Experience rank: 37th Raising children rank: 22nd <em>A man stands watching the newly-opened Holy Sites metro light rail in the western Saudi city of Mecca on November 2, 2010. (AMER HILABI/AFP/Getty Images)</em>

  • No. 18: Netherlands

    Economics rank: 28th Experience rank: 33rd Raising children rank: 14th <em>A picture taken on October 31, 2011 in center Amsterdam, shows the neon sign of a coffee shop. (NATHALIE MAGNIEZ/AFP/Getty Images)</em>

  • No. 17: France

    Economics rank: 33rd Experience rank: 21st Raising children rank: 3rd <em>The peloton races into Paris alongside the river during the twentieth and final stage of the 2012 Tour de France, from Rambouillet to the Champs-Elysees on July 22, 2012 in Paris, France. (Photo by Bryn Lennon/Getty Images)</em>

  • No. 16: Mexico

    Economics rank: 22nd Experience rank: 17th Raising children rank: 20th <em>Traffic in the U.S. enters Mexico at the San Ysidro border crossing, the world's busiest, on June 27, 2008 in Tijuana, Mexico. (Photo by David McNew/Getty Images)</em>

  • No. 15: South Africa

    Economics rank: 30th Experience rank: 14th Raising children rank: 5th <em>A young girl blows a Vuvuzela horn while walking in the Table Mountain National Park on June 5, 2010 in Cape Town, South Africa. (Photo by Dan Kitwood/Getty Images)</em>

  • No. 14: New Zealand

    Economics rank: 29th Experience rank: 18th Raising children rank: 4th <em>A general view of a large Gollum sculpture installed by Weta ahead of the 'The Hobbit: An Unexpected Journey' world premiere at Wellington Airport on November 25, 2012 in Wellington, New Zealand. (Photo by Hagen Hopkins/Getty Images)</em>

  • No. 13: Qatar

    Economics rank: 3rd Experience rank: 29th Raising children rank: 23rd A man wearing traditional local clothes carries a tray of food from a McDonald's fast food restaurant in the City Center shopping mall in West Bay district on October 24, 2010 in Doha, Qatar. (Photo by Sean Gallup/Getty Images)

  • No. 12: United States

    Economics rank: 23rd Experience rank: 23rd Raising children rank: 12th <em>Kethia Dorelus, a social worker with the Cooperative Feeding Program, displays a Federal food stamps card that is used to purchase food on February 10, 2011 in Fort Lauderdale, Florida. (Photo by Joe Raedle/Getty Images)</em>

  • No. 11: Turkey

    Economics rank: 10th Experience rank: 22nd Raising children rank: 21st <em>A protester holds up a Turkish flag as others raise their hands during a demonstration in Taksim square in Istanbul on June 8, 2013. (BULENT KILIC/AFP/Getty Images)</em>

  • No. 10: Hong Kong

    Economics rank: 19th Experience rank: 25th Raising children rank: 11th <em>A general view of shoppers walking in the street are seen on April 26, 2012 in Hong Kong. (Photo by Mark Kolbe/Getty Images)</em>

  • No. 9: United Arab Emirates

    Economics rank: 16th Experience rank: 26th Raising children rank: 13th <em>A man and a woman ride an escalator in the huge shopping complex 'Mall of the Emirates' on December 3, 2009 in Dubai, United Arab Emirates. (Photo by Dan Kitwood/Getty Images)</em>

  • No. 8: Belgium

    Economics rank: 25th Experience rank: 19th Raising children rank: 6th <em>A statue holding the symbol of the Euro, the European common currency, stands in front of the European Parliament building on August 16 and 2011 in Brussels, Belgium. (Photo by Mark Renders/Getty Images)</em>

  • No. 7: Russia

    Economics rank: 20th Experience rank: 12th Raising children rank: 10th Russian opposition activists join hands to form a human chain during a demonstration on the Red Square in Moscow on April 8, 2012. (Alexey SAZONOV/AFP/Getty Images)

  • No. 6: Canada

    Economics rank: 18th Experience rank: 16th Raising children rank: 8th <em>A scenic view of Vancouver from Stanley Park photographed on June 3, 2011 in Vancouver, British Columbia, Canada. (Photo by Bruce Bennett/Getty Images)</em>

  • No. 5: Australia

    Economics rank: 17th Experience rank: 5th Raising children rank: 7th Lifeguards tend to a giant Christmas Tree they had erected at Bondi Beach on December 25, 2010 in Sydney, Australia. (Photo by Don Arnold/Getty Images)

  • No. 4: Cayman Islands

    Economics rank: 5th Experience rank: 4th Raising children rank: 15th <em>Seven Mile Beach on 24 April, 2008 in Grand Cayman, Cayman Islands. (Photo by David Rogers/Getty Images)</em>

  • No. 3: Singapore

    Economics rank: 9th Experience rank: 6th Raising children rank: 2nd This general view shows the financial business district in Singapore on April 13, 2012. (ROSLAN RAHMAN/AFP/Getty Images)

  • No. 2: Germany

    Economics rank: 7th Experience rank: 11th Raising children rank: 1st <em>A student looks at a bulletin board prior to the beginning of the winter semester on October 11, 2011 in Berlin, Germany. (Photo by Adam Berry/Getty Images)</em>

  • No. 1: China

    Economics rank: 2nd Experience rank: 3rd Raising children rank: 16th In this photograph taken on May 9,2012, Chinese labourers work at an electronic products factory in Bozhou, east China's Anhui province. (AFP/GettyImages)