This is a must-read. It’s currently the FT’s most popular article. It highlights the European Commission’s latest Eurozone forcasts for 2015. Check it out!
via European Commission slashes eurozone forecasts – FT.com.
Go to the graphic and press the arrow on the right hand side of the chart.
I was truly amazed at the change in the EC’s forecasts between Spring & Autumn 2014. What stunned me was little old Cyprus!
Cyprus moved from -0.5% to +2.0%. The only other Eurozone country to beat Cyprus was Ireland. Perhaps, the EC are beginning to factor in the Cyprus offshore gas reserves?
Apart from Ireland & Cyprus, otherwise there’s lots of bad news.
I wonder if the new team at the EC are being really conservative, so that they can later chalk up their success in response to their own policies?
Any thoughts, especially on the Cyprus rebound?
Dr Alf's Blog 
Yesterday Dr Alf will recall the upbeat messages from the German Finance Minister in which we were being told about the progress Europe was making.
I questioned this optimism and said that I wanted to be shown the results of these policies before I placed any faith in them.
Today we learn that all the forecasts are being revised downwards bar one,Cyprus.
The EU excluding Cyprus is going tp produce less than 1% growth next year which is 2% less than what is required for full employment.
With inflation factored in Europe is going backwards,is exporting nothing (except for Germany,armaments from BAE Defence Systems and luxury items and supercars from Italy).
Cyprus is hopefully going to show bright promise through the discovery of offshore gas reserves,greater investment from China and more income from tourists and tax exiles looking for a more peaceful and less frenetic life amongst great natural beauty.