Wednesday, November 17, 2010

Eurogroup statement

The statement from the Eurogroup of EU Finance Ministers on the Irish situation can be read here.  An extract.

“We nevertheless invite the Irish authorities to include an annual review in their strategy that will allow them to cope with the implications of less favourable macro-economic developments were they to arise.”

Could they be concerned about our growth projections?  Over the past fortnight we have looked at the forecasts for nominal GDP, real GDP and the components of GDP.  You bet they’re concerned.

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