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

The EU has picked a strange time to pick on Ireland over corporate tax

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By Eamon Delaney With all that is happening at the moment internationally, but especially in Europe, you really have to wonder : why would the EU pick now, of all times, to come after Ireland on corporate tax? At the World Economic Forum at Davos, but also in the European Parliament and elsewhere, Eurocrats and their economic cheerleaders lined up … Read More

Doubling Ireland’s ‘global footprint’ is a rash and expensive move

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Eamon Delaney Never mind the actual problems here at home – the housing crisis, with a now added student accommodation crisis, which we should have seen coming. And the ongoing health crisis, with record-breaking trolly numbers, and a Minister finally admitting what we’ve always known : that the health unions are a huge impediment to HSE reform. But no-one in … Read More

Debt, currency and equities – and the EU and US approach

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By Cormac Lucey One of the greatest economic challenges of the age is that of deleveraging. Having built up huge levels of deb mountainous debt levels over recent decades, how is the world to gradually reduce them? Ray Dalio, the founder of hedge fund Bridgewater Associates, wrote an article a few years ago titled “An In-Depth Look at Deleveragings” that … Read More

Exciting Hibernia Forum Event on Brexit, Trump and Ireland

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The Hibernia Forum held an important and exciting conference on Thursday, 23 February on ‘What Now For Ireland in the Era of Trump and Brexit?’ The conference, with an impressive line up of Irish and international speakers, was held in the offices of Connect Ireland, on 14 St Stephen’s Green, Dublin 2. Among the speakers were former Taoiseach Bertie Ahern, … Read More

Ireland’s apple-licking response to Trump

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By Cormac Lucey Many years ago I heard Professor Declan Kiberd describe the Irish as “apple-lickers”. Imagine if the Book of Genesis had featured Paddy and Eve in the Garden of Eden, instead of Adam and Eve. Paddy and Eve would have been free to eat from any tree in the garden except the tree of the knowledge of good … Read More

Ireland could suffer when Trump adds fuel to the fire

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By Cormac Lucey Recently the S&P 500 — the benchmark measure of shares in the United States — hit an all-time high while the Dow Jones surpassed the 20,000 level. However, this could spell bad news for Ireland. The sooner the world’s economies recover from the global financial crisis, the sooner the European Central Bank’s policy of extraordinarily low interest … Read More

May and Trump will leave us shaken up

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By Cormac Lucey The two seismic political developments of the past 12 months were the UK’s June referendum decision to exit the EU and the November vote to make Donald Trump the next US president. Put beside them, our general election pales into insignificance. For Ireland, Brexit may represent a cloud with few silver linings. We are the only EU … Read More