While looking at Ireland's risk dynamics relating to our exit from the Bailout (covered here: http://trueeconomics.blogspot.ie/2013/11/15112013-ireland-some-credit-risk.html) it is useful to think about the Government deficits ex-interest payments on debt. Here are the latest projections from the IMF:
For now, Ireland is running behind Portugal. By end of 2014, we are expected to overtake Portugal, but thereafter we are expected to remain behind Italy and Greece.
Not exactly a risk-free sailing there for the so-called 'best student in class'... Still, we are heading to posting our first crisis-period primary surplus.