On Tuesday 8 November we hosted a very special event with the highly regarded commentator Janan Ganesh of the Financial Times.
Janan is a columnist for the FT and writes on international politics and culture. His thought provoking insights are particularly valuable for corporate leaders seeking to navigate the current highly volatile global risk landscape. Businesses are currently facing unprecedented disruption arising from heightened geopolitical risk and Janan brought his unique, international perspective to considering many of these issues on the evening.
Industry Survey Results
Almost half (46%) of Ireland’s Financial Services industry leaders believe that the United Kingdom will be back in the European Union by 2040, according to our audience survey on the night. 42% think that continued high inflation is most likely to trigger a global recession, and 32% felt that continued elevated energy prices were also a key inflation driver.
When asked about the biggest threats to global political stability, 29% said that Russia continuing the land war in Europe is the biggest medium-term threat to global political stability. The same amount (29%) was most concerned about the threat of the rise of authoritarian China and potential conflict over Taiwan. Interestingly, only 13% felt that the re-election of Donald Trump would be the biggest cause of geopolitical instability.
Commenting on the event, Mason Hayes & Curran Partner and Head of Financial Services, William Carmody, said: “Our Financial Services lawyers are attuned to the geopolitical tensions that are currently impacting the sector. As a small, open economy, Ireland is particularly sensitive to developments in the rest of the world. This event provides a forum for industry leaders to discuss the impacts of an increasingly challenging macro environment on Ireland’s Financial Services sector.
While we have more questions than answers, we are closely monitoring developments and risks both in terms of geopolitical outcomes and their knock-on macro-financial effects.”
Financial Services Insights Media Coverage
Janan was interviewed by Joe Lynam on Newstalk’s Breakfast Business Show and you can listen back here. The interview starts at about 14 minutes and 30 seconds in. Other coverage included: