Who do you trust, the market or the troika?

There is a conventional wisdom developing among the chattering classes that Ireland must avoid entering a second bailout with the troika.

“Getting back to the markets” is perceived as a good thing, and being flung in to an extended life as Troikaland is apparently bad. I’m not sure anymore.

The cliché about “returning to the markets” means exactly what? Is that the same market that gave Ireland and its banks uninhibited access to borrowings on which we gorged ourselves before throwing upa lot of that money in the form of failed loans since 2008? Are those who helped engineer this form of economic bulimia on Ireland to be now trusted with fresh engagement with our national finances?