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OPINION:Policy-making here needs an overhaul, with guidance from bodies such as the ECB, writes MICHAEL O'SULLIVAN

WE NEED reform, not another rescue package. The mood among Government politicians following Tuesday’s Supplementary Budget is similar to that during the many previous dramatic episodes in Ireland’s credit crisis – self-congratulation that tough talk and apparently bold action have saved the day, and blustering assurance that the worst is over and the recovery is in sight.