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Yes, something along those lines would be *much* better:
class Ignore:
 ''' Context manager to ignore particular exceptions'''
 def __init__(self, *ignored_exceptions):
 self.ignored_exceptions = ignored_exceptions
 def __enter__(self):
 return self
 def __exit__(self, exctype, excinst, exctb):
 return exctype and issubclass(exctype, self.ignored_exceptions)