The green shoots of recovery could easily turn out to be toxic weeds

Germany, the traditional engine of the European economy, is contracting more than even Italy, never the healthiest of plants at the best of times. The banking bailouts are largely Anglophone phenomena but the Eurozone has been hit harder by the global downturn. Japan’s industrial production is down severely too

THEY seek them here, they seek them there – those Fianna Fáilers seek them everywhere. Are they sprouting? Have they roots? Those damned elusive greenish shoots.

Whether or not you are open to the idea that the economy has actually started to turn the corner, however, depends on your disposition, your personal finances and your political perspective. Unfortunately for the Government, though, the opinion polls suggest you are more likely to believe the Taoiseach has seen the Yeti than the start of the recovery.