There are some strange things going on in financial markets around the world at present. In Japan, they are thinking about issuing bonds from the government to finance infrastructure. That, in itself, is not unusual but the drop dead point is that these bonds will be purchased by the Japanese Central Bank on a non-redeemable basis. In plain language that means they need never be repaid. It is the best example I can find of so-called ‘helicopter money’ which is effectively free finance.
Despite the political turmoil, the Zika virus, junk bond rating of its sovereign debt and its deepest recession in a century, Brazil still stands as one of the world’s largest economies – and one of the most important trading partners for Ireland in South America.
As the Premier League season gets under way next weekend, Sky TV will once again assert its dominance across the sporting realm. Brushing aside the post-Brexit concerns dogging many other UK companies, Sky shares posted a 7% rise —their strongest increase in three years — on the back of significant revenue growth.
Despite the compelling economic recovery story that has been steadily building over the past couple of years, objective observers of the economy have recognised the health of the banking sector as an ongoing source of concern for Ireland.
Geopolitical risks have intensified over the past month or so with Brexit, the terrorist attack in Nice, the shooting of police officers in a number of cities in the United States, the tragic shootings in Munich, and the failed military coup in Turkey.