just announced on newstalk courtessy of colm prophy.
after a year of contraction France's new figures show a 0.3% growth which is matched exactly be germany.
this is great news as theyre the basic engine of european economies and its already translated into a rally on the ISEQ , UP 1% on opening.
with toursism and exports being two planks of our economy with a bit of luck this'll help us too.
Great, we are saved now because FF have been telling us for ages that we are ideally positioned to benefit from the global upturn. Yeah right. lol.
Here comes the intrest-rate crush.
Now things are going to start getting really bad.
Spot on, expect the rates to rise just after the Lisbon vote.Originally Posted by Monday Monday
yup.
meant to say that in the OP. apparently "quantative easing" is meant to be behind this so inflation is only around the corner.
could be good time to fix those mortgages.
this was completly unexpected though so any gov minister who tries to use this should get a slapping, i just wanted to report the occurance which is good news for once.
In the long term this is good news.with toursism and exports being two planks of our economy with a bit of luck this'll help us too.
However, in the short term, it is likely to push up interest rates, hitting mortgage holders and a heavily borrowing government.
It is also likely to push up the value of the euro compared with sterling and the dollar, thus further reducing Ireland's competitiveness.
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