"Ireland will beat recession", "Rapid growth... as early as next year" - Cowen

[sport02]

The only 'good news' is that no one took these projections seriously in the 1st place....

Reality is we are heading to DEFAULT

- and a complete and utter collapse of what remains of the Economy.

The only way out now is to seize the paddles back from the Troika and make our own way through the rapids and hope we don't smashed against the rocks...

Europa Conventus Delenda Est

ALSO.

•Irish govt revises 2013 deficit forecast to 7.2% from 5.8%; 2012 to 4.7% from 2.8%.
•Ireland revises 2011 debt/GDP forecast to 111% from 98.6%; 2012 to 116% from 102%

Isn't the magic default figure suggested by alot of economists as an ineviditability 120%
We certainly are on very thin ice.

[Freedom front]

The only 'good news' is that no one took these projections seriously in the 1st place....

Reality is we are heading to DEFAULT

- and a complete and utter collapse of what remains of the Economy.

The only way out now is to seize the paddles back from the Troika and make our own way through the rapids and hope we don't smashed against the rocks...

Europa Conventus Delenda Est

Most of us are so Cheesed off, we don't want to paddle through the rapids for these scumbags, If we smash against the rocks maybe some of these scumbags will get whats coming!

[BlackLion]

it funny looking at the title of this thread and how similar it sounds like what kenny is saying. looks like we are going nowhere

[Mrwoody]

Its a good day to sneak out bad news with the royal wedding and the bank holiday and the stockmarket in uk closed, what will they sneak out when obama and the queen are hear there will be a full week for sneaky news

[gijoe]

This from Zerohedge.

More Friday afternoon bombs - Ireland revises 2011 GDP growth to +0.8% from +1.7%; 2012 to +2.5% from 3.2%.

That is just over a 50% decline in projected growth for this year. Things getting worse. Not good at all.

One forecast by a foreign (of course) bank is that Ireland will decline -2.3% this year. That would put on something like GDP -15% and GNP -25% since the peak.

[hammer]

There will be no growth.

Consumer spending accounts for 53% of GDP.

By the end of the year it will be -5%