February 2012 issue
When Patrick Kennedy took over from John O’Reilly as Paddy Power chief executive in January 2006, the share price was hovering around €12 per share. At the time of going to print, the stock had climbed to €43 per share.
The argument that our current programme is just fine is a fallacy. The scale of our debt burden is far too high to allow any return to the bond markets. But a fairly simple EU agreement with our European partners just might do the trick.
The preference for income-generating assets is a notable one and it is a theme that is likely to continue to run for some time – given the downward pressures on incomes due to government austerity measures in Western economies.
The focus on key economic metrics such as debt-to-GDP ratios and deficit levels masks the enormous private debt mountain. Christopher Goodfellow argues why this problem must be addressed and why progress is hampered by weak growth.
With the worldwide online community venting its collective anger at politicians introducing restrictions in the name of eliminating digital piracy, Rónán Duffy examine the the Irish Governments rushed attempts to follow suit.