Personally, I think thats only half the story as far as we're concerned. The cuts here have been a positive in the eyes of the markets, but the Irish cuts have done f*ck all/made matters worse, because the markets can see they are likely to weaken the overall Irish economy. For my money our strongest card is non-membership of the eurozone, which allows our own government to take our own economic decisions in our own economic interests. No country in the eurozone can do that, and imho it trumps everything else.