Monday, May 11, 2009
Trichet arrives at Green Shoots Station after train has left.
FT: Downturn bottomed out, Trichet signals
Jean-Claude Trichet signalled on Monday that the global downturn had bottomed out with some large economies already able to put the recession behind them and look forward to renewed growth.
The European Central Bank president’s comments on Monday in Basel, Switzerland, had added weight because he was speaking on behalf of the world’s leading central bankers, not just for the eurozone.
His remarks came as the Organisation for Economic Co-operation and Development said there were signs of a “pause” in the economic slowdown in France, Italy, the UK and China.
Posted by devo @ 11:40 PM (466 views) Add Comment
4 Comments
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1. crunchy said...
Shame Trichet did not share he's unique wisdom years ago.
Yawn!
2. devo said...
Similarly:
It is little wonder, then, that a glimmer of optimism has broken through the clouds. It has been articulated, albeit tentatively, by Lord Mandelson, the Business Secretary, who said that while he had yet to spot any green shoots, he had detected "green seedlings".
http://www.telegraph.co.uk/comment/telegraph-view/5307610/Its-the-end-of-the-beginning-of-the-recession-not-the-beginning-of-the-end.html
God help us in December:
Now is the winter of our discontent.
3. stillthinking said...
It is a shame that an economic recovery depends so much on consumer confidence about a recovery, because all pronouncements to the public are meaningless confidence building measures, they can never change their line.
4. inbreda said...
@3
yup - it's like asking an EA if now is a good time to buy a house.
Pointless question.