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Colm McCarthy: Voting No is a leap in the dark that we can't afford

Controversy over refinancing the promissory note could turn into a sideshow. Recent data from the Central Statistics Office (CSO) and an important report from the Central Bank suggest that the economic and financial outlook remains very challenging.

There is no guarantee that the current programme of emergency lending to Ireland will be followed by a successful return to the sovereign debt markets and an end to reliance on official lenders. A successful outcome to the programme depends almost entirely on events outside the Government's control.

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