It wasn’t just Joe Public kept in the dark

THERE are certain cabinet ministers who are feeling a little sore this weekend. Not just because Ireland slipped into an EU-IMF bailout under their watch, but because the ministers themselves — some of them, at least — had no inkling of what was truly happening until it was too late. They feel they were kept in the dark — by Brian Cowen and Brian Lenihan.

That, at least, is the picture that seems to be emerging now that the smoke around the bailout has cleared somewhat. It comes with a cautionary note attached, however: it’s been a week full of spin, and there may be further dissembling at play. Still, it is worthwhile noting how the situation unfolded and analysing why it unfolded that way.

The bailout speculation sprung from international media reports beginning on Friday of last week. Citing “official sources”, news agency Reuters said Ireland was in talks about a rescue package. The next day, the BBC followed suit.