Ireland Bail-out 3.0 (this time more benign than 1.0 - the original Troika lending arrangement, but less benign than 2.0 - the 2011 alteration to the terms of the Troika lending arrangement in the wake of Greek bailout 2.0... I know, one can wreck one's head on this forest of bailouts) has been heralded as a 'historic' achievement.
Here is the original (unedited) version of my paper from 2010 on
- the necessity of such a deal, which makes me deem the deal to be net positive, and
- the volumes of relief that we need (well in excess of EUR4.3-6.9 billion NPV benefit my model estimates the deal will provide over 40 years duration) which makes me deem the deal to be insufficient in terms of relief provided.
Read, again... http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1985617
Note, the title of the book in which this featured as a chapter is What if Ireland Defaults.
