EU lowers growth outlook for Ireland to 0.9% 4/5 year plan in tatters?

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EU lowers growth outlook for Ireland to 0.9%, 4/5 year plan in tatters?

Watching the 1`Oclock news just now and they ran a segment about the EU forecast growth plans.

Whilst the EU has raised it overall outlook for 2011 it has actually lowered Irelad`s forecasted growth to 0.9%.

Surely this has put the 4/5 year plan into serious doubt offically now?

On a side note the rest of the news was pathetic, RTE trying to play up the market repsonse to Ireland`s bailout as a spositive sign. They even mentioned how Irish Life and Perm shares had increased by 60% forgetting to mention that Ireland life and Perm have not been part of the bailouts!
 
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sport02

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It is also worth noting, the man advising Lenihan on the banks, forecasts a big fat ZERO growth for next year. I personally am not taking the goverment figures, when are they ever right.
 

Padraigin

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Ireland will have "negative growth" for the foreseeable future if this deal goes through. The economy will shrink - and keep shrinking.
 

Buddies

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This is a joke, in order for the economy to grow, the people within said economy need to have confidence within it.

How can we?
 
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Watching the 1`Oclock news just now and they ran a segment about the EU forecast growth plans.

Whilst the EU has raised it overall outlook for 2011 it has actually lowered Ireland`s forecasted growth to 0.9%.
What on earth is going on here can anybody explain? How does the eu/imf approve the plan and bail us out only to announce a few days later that the plan is a joke?

Lots of independent analysts have been saying the plan was unrealistic and optimistic, honestly it makes no sense.

Is the world run by idiots who have no clue or really sneeky creeps that are taking us for a ride?
How crazy is Jim Corr.....
 

sport02

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What on earth is going on here can anybody explain? How does the eu/imf approve the plan and bail us out only to announce a few days later that the plan is a joke?

Lots of independent analysts have been saying the plan was unrealistic and optimistic, honestly it makes no sense.

Is the world run by idiots who have no clue or really sneeky creeps that are taking us for a ride?
How crazy is Jim Corr.....
Unfortunately we Irish don't learn from previous experiences, before Lisbon 2 we were an integeral part of europe and they were are friends, we approve Lisbon 2, and then get screwed by europe in the bailout.
 

Squire Allworthy

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The ink hasn't even dried and the outgoings have increased and the projected income decreased.

Business plans are only as good as the assumptions. Good business plans usually lean towards the pessimistic. It is better to go back to your investors and announce a saving than have to ask them to dig deep.

EDIT

Just to add Ireland needs growth and that is where attention needs to focus. What measures put in place now would encourage growth?
 

TonyB

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You don't mean that we were wrong in our forecasts, do you? Holy Crap, Batman, something's not right here!
 
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The EU's economists have been as consistently wrong as everyone's economists. I dont see how this act of attempted clairvoyance is of any interest.
2.75% is the (ave?) gov growth rate. The ESRI predict GNP and GDP contractions for 2010 and then suddenly we get massive growth with €6b taken out of the economy - sounds like utter insanity to me.
The eu .9% growth is prob ambitious.
 

hibernian56

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Only 2 days old and already the plan is wrong!!

Well done Mr Lenihan, you have done it again.

The growth rates predicted in the much vaunted 4 Year Plan were 1.8%, but the EU say it will only be 0.9%. Some things to note;

  1. Our illustrious Minister gave his plan to the EU last week showing his growth predictions.
  2. The growth rate is central to our ability to pay back the alleged "Bailout"
  3. Olli Rehn himself announced the EU predictions for our growth.
  4. When a group people lie, there tends to be a number of "small" anomolies in the story.
  5. Brian Lenihan is an outright liar.
  6. The four year plan, 13 years into their spell in Government, is a complete farce.
  7. Brian Lenihan is a liar.
  8. Smoke and mirrors, the plan was taken as irrelevant by the ECB / IMF / EU.

The "Opposition" have not made any comment on this, which speaks volumes.
 

hammer

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Get the DOF to post the excel sheet on how they calculated future growth :)

There will be NO GROWTH.

The EU are wrong also :(
 

ellie08

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Doesn't say much for Cambridge and Trinity does it? They must be so ashamed.
 


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