In Good, Bad and the Ugly euro gunfight, the baddie will prevail
The ESRI is hedging its bets on the prospects of recovery but Ireland can help itself by tackling private debt
OF that about which nothing can be said, nothing should be said. According to some critics, that dictum seems to be the motto of the medium-term economic review published by the ESRI last week.
It is easy to have some sympathy with the authors, led by economist John FitzGerald. He argued forcefully that everything which can reasonably be expected over the next five years is covered in the report. But these are strange times, and the way in which things were presented in the report was unusual.
Normally, the tradition in economic forecasting is to present a range of possibilities; while the tradition in the media is to concentrate on the middle one.