The leaked bundestag document last week said exactly the same and the muppets in government said the opposite.
same shite different day!

You would not need to be an economist to know that…

Looks like il be staying in oz for a while yet then

There is no recovery their cant be when all our money is bing taken out of the economy to pay for the mistakes of others and no money left to invest in domestic economy. It pretty simple to understand so why won’t our government wake up and realise this.

What a surprise, you can’t cut your way out of a recession. I bet there will some fg muppet on the news tonight dismissing this report and saying we’re moving in the right direction.

The central bank of magical make believe got it wrong again .Fear not the mystical wizard Honahan will sprinkle some fairydust and all will be well again in the land of ghouls and goblins.

These people are totally clueless. We would get something just as accurate (not) & importantly with roughly the same intellectual backing to it, from Mystic Meg.

The Central Bank (& all the rest of the mainstream institutions) reference the same ‘models’ & exactly the same economics thinking, as was used before the crisis, which afforded them not the slightest clue any ‘crisis’ was imminent.

Thinking and models which regarding banking and debt as irrelevant to economies’ outcomes. The peddlers of this neoliberal driven dogma have neither apologised or instigated meaningful correction.

They have used the same thinking to ‘inform’ their garbage utterances since, and drive the Eurozone into the ground, totally unnecessarily, with years of economy wrecking ‘austerity’. (Austerity for the many that is, not the top few percent making these decisions.)

There is no recovery, nor one coming any time soon. These numbers, already suggesting stagnation, not growth, are pure spin & will be downgraded again in a few months as has been the case every few months over the last five years.

Greece and Spain are going to implode soon – their economies are in worse shape than ours. Gernany’s economy contracted in the last quarter of 2012.

Austerity is doing exactly what its critics have said would result. Who gains from this? Well, not the majority of citizens. But there is a great opportunity for buying firesale assets for the top few percent – those running banks, politics etc.

One thing these last few years should have taught us. Political leaders & their advisers at the top of the civil service have not operated in the interests of the majority of citizens & are not now.

There are solutions. The deeply flawed by design (of bankers) Euro system requires serious reform. In some form, this going to happen anyway because it is not sustainable. (Merkel is just can-kicking now until September hoping to get re-elected before it all falls apart.)

The Euro can easily be reformed to quickly return growth, employment & prosperity. But it will require people leading it who are not just looking after themselves and the interests of the top.

Why do we listen to these people?

They don’t really know how to predict anything these days…moving sands.

Its time for the stability, jobs, growth BS again then.

The central bank went asleep for a few years & by the sounds of it they are still a bit groggy.

Wow,theres a surprise!! Not.. Its gone to the stage now where its actually pointless in having the ESRI and CB making economic forecasts as at the end of each relative period,both will have made about 4 revisions, downward also of course