Growth in 2013
This post was written by Kevin O’Rourke
In the Irish Times, Michael Noonan is quoted as saying:
“On next year’s profiles we’re looking at 2.2 per cent of growth in GDP. The uncertainty caused by a No vote will cause that to come down and consequently that would make my job more difficult in planning the next budget. I don’t want to be put in a position where we have to increase the pace of the correction and, simply, the electorate are entitled to that information.”
I am curious. Am I the only one who thinks that plus 2.2 per cent is wildly over-optimistic, unless there is a radical change of direction in Eurozone macroeconomic policy?