This is not a bailout

 

He’s right of course, it won’t work. And unless there is some form of renegotiation, we the citizens will now pay for the greed of Irish and international bankers.

 

http://krugman.blogs.nytimes.com/2010/11/28/the-irish-non-bailout/?scp=2&sq=irish%20bailout&st=cse