Compared to the crash of 2008, the next crisis will actually be even worse

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By Cormac Lucey It is 10 years since the Irish government’s fateful decision to guarantee the liabilities of the Irish banks. That rubber-stamped the country’s plunge into financial disaster, following the collapse two weeks earlier of Lehman Brothers, which kickstarted the international financial crisis. As with all meltdowns, there had been plenty of warnings. The share price of Bank of … Read More

Send for Michael O’Leary — our economy still measured on a wing and a prayer

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By Cormac Lucey What is Ryanair’s annual output or revenue? You can find the answers very quickly by looking at the company’s annual report. For most companies, total annual output is a simple matter to determine. Measuring Ireland’s annual output is a more complicated question. This is because the presence of so much multinationals generates activities that occur here but … Read More

The Statistic That Should Really Scare Us

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By Cormac Lucey. in the Sunday Times, 17 April 2016 What is the scariest statistic or measure you have seen? A few years ago, the rising national debt and the increasing risk that Ireland might have to default on it was the main preoccupation of public policy. It resulted in severe austerity imposed by the IMF/EU/ECB troika. But having exceeded … Read More