At 2.2% in 2025, the US economy grew at the slowest pace since the pandemic year of 2020. GDP (Advance Estimate), 4th Quarter and Year 2025 | U.S. Bureau of Economic Analysis (BEA)

Christine Lagarde Says Her ‘Baseline’ Is Finishing ECB Term www.wsj.com/world/europe...

This innocuous looking piece of rock is Core 7, inspiration for a number of theories that involve aliens in ancient Egypt. You can see it for yourself at the Petrie Museum.

This country's ability to rinse the young and then berate them as lazy avocado addicts is ridiculous. They're so up against it, it's madness. - as.ft.com/r/094f3968-1...

Germany’s economy grew last year for the first time since 2022, despite a decline in exports while imports jumped. Perhaps the start of something. Gross domestic product up 0.2% in 2025 - German Federal Statistical Office

Bank of France Gov Francois Villeroy is not happy with Europe’s response to the new disorder: “Let us draw at least one lesson from the excesses across the Atlantic: we must act faster, more clearly and more forcefully.”

Just finished the 1050-page Faerie Queen, an Elizabethan epic heavy with knights and distressed damsels.The revelation for me was Talus, which seems to be a homicidal robot.

One of the many odd things about Ireland is that, having been one of the most Catholic countries, it’s capital city lacks a Catholic cathedral: www.rte.ie/news/dublin/...

www.rte.ie/news/ireland... what the story might not make clear for non-Irish readers is that this is a center for housing refugees while their applications for asylum are being processed.

The report shows a sharp rise in research security measures – policies designed to protect sensitive research and prevent foreign interference. In 2025, countries reported 250 such policies — almost ten times more than in 2018.

Who else could have pulled it off?

They only have two centuries of experience to draw on, but GWR still surprised that a lot of people travel to and from Oxford. Maybe if they had some tangible sign of demand, like ticket sales, they could provide an adequate number of seats.

This may be obvious, but the trick to the BOE’s QT announcement seems to be that sales of long-term gilts are pretty much the same as last year (20% of £21 billion vs 33.3% of £13 billion) even as total sales rise. Some people might have wanted to see no further sales at the long end.

The Irish ambassador to Germany has conveyed her concern to German authorities after an Irish demonstrator was assaulted by police officers during a pro-Palestine protest in Berlin.

How it started….

You think your country has problems - Ireland does not know where the heart of The Liberator lies: www.rte.ie/news/ireland...

Further evidence of London’s collapse into anarchy and despair. www.wsj.com/real-estate/...

Awful weather, Tour finished for the day, decided to cast a glance at the CD rack. Which was a good call. I’d forgotten how great this is.

So the eurozone economy grew twice as quickly in the first quarter as previously estimated. That huge revision was largely due to US stockpiling of pharmaceuticals purchased from Ireland. GDP up by 0.6% and employment up by 0.2% in the euro area - Euro indicators - Eurostat

I was surprised to discover (from Hayek’s Bastards) that Richard Lynn had worked in Dublin in the early 1970s, and even more surprised when I discovered that he was a researcher at the Economic and Social Research Institute at exactly the same time as my father.

The ECB has just published its twice-yearly financial stability report, which dwells at length on the threat posed by heightened policy uncertainty, without once using the word “Trump”. Hats off.

Genuinely did not have the UK as the worst hit major economy as the tariff news unrolled. www.pmi.spglobal.com/Public/Home/...

While we’re on the subject of stolen purses, one of my favourites from way back belonged to the head of the IMF’s mission to Bulgaria when Bulgaria desperately needed the IMF’s money. Reference here: www.rferl.org/a/1080539.html

GWR. Possibly the worst railway company in the world ever. Discuss.

My old school, showing some backbone: College advises researchers to disregard US government survey amidst authoritarian shift trinitynews.ie/2025/03/coll...

This probably isn’t reflective of the views of all US scientists, but it’s pretty arresting nonetheless. It seems like an opportunity for Europe (and Canada). www.nature.com/articles/d41...

What’s not to like about higher taxes on the worst form of transport?

Another big fall in US consumer condidence, even among Republican voters. And a sharp rise in expected inflation, which is a tariff thing. www.sca.isr.umich.edu

It’s depression era deja vu all over again. We had unease in the late 90s over the roll back of financial regulation that originated in that dread decade, and guess what happened. Now we have the Smoot-Hawley revival. Can we ever learn from experience?

One of these years, GWR will figure out how to run a train to London from Oxford. Trying and failing since 1833.

So eurozone GDP is very likely to be revised higher tomorrow as a result of this enormous change in estimated growth for Ireland. It’s a five pp swing! www.cso.ie/en/csolatest...

The German response: Federal Chancellor Olaf Scholz: "Nobody wants peace more than the citizens of Ukraine! That is why we are working together to find a way to a lasting and just peace. Ukraine can rely on Germany - and on Europe."

The view from Moody’s: “US disengagement from Europe and NATO is likely to create conditions for more intense Russian aggression”

So what happens to the studies of friendshoring that base blocs on UN votes if the US and China start agreeing on stuff? www.wsj.com/world/russia...

I’m one of the single-sport people who will not be signing up to this, which seems to involve paying for the EPL even if you don’t want to watch the EPL: www.cyclingnews.com/features/wha...

“Recent events have made it clear that Europe will have to rely more on itself” cepr.org/events/kiel-...

Ukraine’s resilient economy faces another tough year as Russia targets power networks: www.wsj.com/world/europe...

This does suggest that the move fast even if you break things approach is making businesses a little nervous: www.pmi.spglobal.com/Public/Home/...

Rabobank has seen enough: “Europe continues to be plagued by a leadership crisis and does not do what is considered to be the core tasks of any government: protecting its citizens and their belongings. Europe needs to grow up, leave Disney world and come to terms with this new world.”

Not exactly a surprise. Maybe peace will give the central bank a way out of this. www.morningstar.com/news/dow-jon...

dev.alexandrapalace.com/whats-on/unc... I was not sure what to expect, but this was really good. I’m not sure if it’s repeatable, but worth your time.

www.insee.fr/en/statistiq... Up 0.1 isn’t hugely different from down O.1 since neither is good enough, but a surprise contraction can’t do much for the vibes.

Spain’s economy was growing faster than most of the rest of Europe and likely the US in 2024. Tourists and migrants. www.ine.es/dyngs/INEbas...

Positive surprises, even if very slightly positive, have been thin on the ground for Europe’s economy recently. But here’s one to start the year: www.pmi.spglobal.com/Public/Home/...

Europe’s largest economy contracts for a second straight year: www.destatis.de/EN/Press/202...

With further rate cuts from the Fed looking uncertain and a big CPI number due today, it didn’t seem like the day for this kind of move. Indonesia’s Central Bank Surprises Markets With Rate Cut www.wsj.com/articles/ind...

More of that US exceptionalism: news.gallup.com/poll/653897/...

Spain's GDP growth could stand at 3% this year, almost four times euro-area average • Country benefits from high immigration, solid tourism and fiscal support from EU covid funds • Spain’s population has increased by 1.5m in past three years, mostly thanks to high immigration

www.ecb.europa.eu/press/pr/dat... what’s important is what’s not there, which’s is the pledge to keep policy restrictive.