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Anyone know why the ESRI shifted their embargo on the Quarterly Summary to 09.30 tomorrow? Conspiracy theorists would have a field day with the possibilities but it seems odd to deny the Irish Times their splash headline tomorrow.
News is bad by the way, contraction wll break 1% of GNP this year.
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I wonder if it is a one-time shift so as not to distract from their big budget perspectives conference today. There will be some tough messages from that. Basically that the days of our relatively low direct taxes may be ending.
http://www.esri.ie/news_events/events/forthcoming_events/event_details/index.xml?id=152
That is a good point P, I wondered as they usually give it a long run in to allow the papers to pick up on the output.
Low taxes are over but I wonder at what point we begin to add to our EU badboy reputation by looking at ECB rates as a factor for blame. God knows Bertie et al dont want to accept culpability for short sightedness so blaiming ECB for out of sync rates might be a narrative worth watching.
THe spin doctors are playing a blinder with the blame game—international finance, the USA, the financial regulator , the central bank, EU low interest rates, hedge funds—everything over which we had no control but we had a minister for finance(at least we were paying one)who made evrything worse by not insisting on tighter lending criteria and not abolishing all tax breaks, applying rates on holiday homes—plenty he could have done and we might have a functioning economy post building boom. McCReevey , Cowan and Bertie have a lot to answer for but they don’t appear to know or care.