Before it’s news, read it on first… Again! OIL (4)

ONE FULL WEEK (February 23) before this appeared in the pages of the Irish “deadwood” media (March 1), we were reporting on this first, with detailed updates in later posts – even before the deadwood caught up.

OIL: We had the exclusive scoop on this in the Irish media, February 23

Via ZeroHedge BusinessInsider, the Irish Independent finally catches up with us – Oil price fear threatens 3pc decline for economy:

This deadwood just washed up recently.

This deadwood just washed up recently.

THE Irish economy will shrink more than 3pc this year if oil prices stick at $150 a barrel, while at least one country on the eurozone’s periphery would be likely to default, Ernst & Young economist Marie Diron warns in a new report.

The price of Brent crude skirted $120 last week and many analysts said it could rise further if the protests in Libya spread to other repressive oil-producing regimes, such as Saudi Arabia.

Falling growth here and elsewhere in Europe if oil rose to $150 a barrel would create renewed turmoil on sovereign debt markets and further hurt the banking sector, which would in turn require new bailouts.

Read more of the Irish Independent piece.

Read more of what we had published before this:

This entry was posted in Accountability, Budget, Debt Default/Restructuring, ECB/IMF, Economy, Energy / Natural Resources, Euro / Sovereign Money, Geopolitics, ireland, Media and tagged , , , . Bookmark the permalink.

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