The Irish Economy
Commentary, information, and intelligent discourse about the Irish economy
Euro area growth is predicted to be 0.8% in 2014, rising to 1.3% next year. Japan’s high level of public debt and ageing population mean it will grow by less than 1% in both years, the IMF said.
Blanchard said there was a possibility that ultra-low growth in the euro area could turn into deflation, a period of falling prices that would make debts more expensive to service.
“This is not our baseline (forecast), because we believe euro area fundamentals are slowing improving. But should such a scenario play out, it would be the major issue confronting the global economy.”
“But should such a scenario play out, it would be the major issue confronting the global economy.”
Q1 US GDP contracted by an annualised 3% due to the Arctic vortex AKA climate change. I think that’s more significant than the EZ situation which can always deviate from the current path if certain people are given the right instructions.
Comments are closed.