Gene Kerrigan: Blind optimism last refuge of clueless
You know you're back at square one if Brian Lenihan says you've turned a corner, writes Gene Kerrigan
Ah, no, we said -- all those of us who have become painfully aware of Finance Minister Brian Lenihan's capacity for self-delusion. Please, please, please, we said -- don't let him say it, don't let . . . But he did. Oh, he did.
The corner thing. He said it.
Last week the economy took a pounding. First, the money markets scented blood and pushed up the rate at which they lend to the Irish State. Then, the Central Statistics Office released the figures for the period April to June. And instead of the anticipated growth, the economy contracted yet again.