We have an economy to save, not just banks

THE positive spin coming out of the National Treasury Management Agency on Thursday, when it launched its annual report, may or may not charm the sceptics about the future prospects for the Irish economy.

Some remain convinced we are doomed and that we will, sooner or later, have to be rescued by our European partners or the IMF.

Michael Somers, the well-respected head of the NTMA, said that our credit status had improved with international lenders less worried about our ability to pay back what we borrow.