Bailout exit gives us a chance to look forward
LIKE a savvy gambler, the Government is making the most of the cards it was dealt when it comes to exiting the bailout and returning to the debt markets next year. But as every savvy gambler also knows, there are always risks.
What can be said at this stage is that the Government played its hand well on whether to apply to the troika for a €10bn "overdraft", to be called upon if the risks materialise and Ireland again finds itself, as in 2010, unable to borrow at affordable interest rates.
By allowing the notion to be discussed over the past few weeks, it was possible to judge the markets' reaction in advance to a "clean" bailout exit with no overdraft.