Bailey showed some great touches at the beginning of the season, then has been injured and had a few minutes here and there since. He really needs to be given a chance.
Phillips would be a great buy and we could add Loftus-Cheek for a bit of bulk with a fair amount of skill.
Surely in that context there would have been no chance of us tempting and very possibly signing Coutinho. At 29 surely he has any number of better football options.