Illusionist’s celerity and phantasmal haste do not stack. It’s exactly as it sounds. Phantasmal haste does not decrease phantasm recharge time if illusionist’s celerity (minor Mesmer trait) is already present in a build.
Phantasmal Haste does not actually do what it says. What it actually does is make phantasms attack more frequently. http://wiki.guildwars2.com/wiki/Phantasmal_Haste
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