Ireland is no model for Greece

Acquiescing to the troika template of austerity has resigned the Celtic Tiger to long-term damage to the economy and to repeat mistakes. Athens take note

Throughout Europe, Ireland is held up as an example for Greece: we took the pain, engaged with the troika, and worked our way out of crisis to become the fastest growing economy " or so the story goes.

This myth, however, is based on much that is misunderstood and more that isn't mentioned. It's true that Ireland's relationship with the troika was not contentious - for good reasons. When the troika came to Ireland, they did not have to impose a programme, hand down edicts or enforce decrees. The government had been pursuing a troika-like programme for more than two years before the three institutions - EU, IMF and ECB - arrived in December 2010.

Ireland is not only not a model for Greece and other European countries; it shouldn't even be a model for itself