Quarterly Economic Commentary, Summer 2012

Duffy, David and Durkan, Joseph and Casey, Eddie (2012) Quarterly Economic Commentary, Summer 2012. [Working Paper]

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Abstract

As at the time of the last Commentary, uncertainties in the eurozone remain and, despite progress made domestically in terms of fiscal consolidation, financial sector reforms and a reversal of competitiveness losses, the scale of the challenges facing the monetary union have the potential to suppress any significant Irish recovery further into the future. In addition, subdued growth in the UK also signals difficulties for immediate growth prospects. Recovery in Ireland in the near term remains tied to developments elsewhere. Current forecasts for the eurozone economy predict a recovery in the second half of this year and into next year.

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