Lessons from Angela Merkel for Leo Varadkar

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By Cormac Lucey So Angela Merkel, the German Chancellor, is on the way out. On Monday she announced that she would not contest her party’s leadership at its conference this December. She also stated that she intends remaining chancellor until the next scheduled German Federal elections in September 2021. Time will tell whether she manages to hold on that long. … Read More

Italian populism could soon cloud our sunny outlook

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By Cormac Lucey Humans adapt quickly to changed reality and soon take it for granted. Spring replaces winter, and we feel that life should always be like this. We almost forget the experience of winterish conditions, or that in a few months they will return. Similarly, when strong economic recovery replaces a brush with economic depression, we take the positive … Read More

Europe’s default leader has little to show for it

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By Cormac Lucey Henry Kissinger, the US secretary of state and national security in the 1970s, once exclaimed in frustration: “Who do I call if I want to call Europe?” At the time there was no clear European leader to speak to. If the US wanted to arrange something it would have to separately fix it with the British, the … Read More

Our Chairman talks to Eamon Dunphy about Conservatism and international affairs

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In a wide ranging and absorbing discussion, Hibernia Forum Chairman Cormac Lucey discusses the philosophy of modern Conservatism with the veteran broadcaster Eamon Dunphy. What are the big issues in the world today? Why are so many people in the West discontent despite rising prosperity and longevity ? Is the EU a German project, even by accident? Why does the … Read More

Can Macron make the French connection strong enough to sway Germany?

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By Cormac Lucey At the end of the 1972 movie The Candidate, Robert Redford’s character, Bill McKay, a young and attractive outsider who has won an improbable election victory, turns around to his campaign manager and asks: “What do we do now?” The newly elected president of France, the 39-year-old former banker Emmanuel Macron, must have similar feelings. Macron may … Read More

Never mind China, its in Europe, via Germany, that the real currency distortion occurs

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By Cormac Lucey A country’s trade position with the rest of the world can reveal a lot about its essential economic nature and its immediate economic condition. This is because there is a certain financial consequence of a country’s trade position. If it is running a deficit, its debts abroad must necessarily grow as a result. Conversely, if a country … Read More

Italian vote can push EU closer to the edge

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By Cormac Lucey Since 2007 the world has experienced several economic crises. First we had the global financial crisis that erupted in 2008 with the collapse of Lehman Brothers. Some years later, the eurozone crisis unfolded in its full fury across the periphery of the common currency area, eventually engulfing Ireland. More recently, economic crises have plagued developing world countries … Read More

Has Quantitative Easing lost its shock value ?

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    By Cormac Lucey, in the Irish Sunday Times James Garfield was elected the 20th president of the United States in 1880 and took office the following year. Just six months into his presidency, he was assassinated by a madman.A skilled orator, Garfield once declared: “Whoever controls the volume of money in our country is absolute master of all … Read More