Brendan Keenan: If things get no worse in 2012, it will be progress
Published 27/12/2011 | 05:00
IT is a sign of the sorry times we live in that, if 2012 turns out no worse than 2011, it will seem like a pretty good outcome.
Until a few days ago, even this feeble New Year wish did not look like being granted. There were ominous signs that the eurozone economy was grinding to a halt. This was emphasised in Irish figures for the July-September period, when exports -- the only cylinder still firing in the Irish economic engine -- began to stutter.
There were fears of a slowdown in the US economy as well, and the 'bears' are predicting a dramatic burst in China, after the extraordinary boom of the last several years.