GIVEN the many recent political issues and unrest across Europe, the Brexit vote and the unthinkable, billionaire Donald Trump as President of the United States, I wondered how people across the world are going to view the political importance of 2017.
Europe today is a very divided and an unequal region. There is now a swathe of anti establishment sentiment, which is gathering serious momentum and in my view now threatens the very existence of the European Project.
At the beginning of this month the Italians were the latest to reject the establishment and it looks likely that an election will be called soon to try and establish some form of political stability. This will be easier said than done as Italy, traditionally a pro-European country, is now swinging against the EU.
There are many challenges facing the Italians today, socially and economically, but one of the biggest areas of concern for the country is the viability of the country’s banking system, which is under serious duress given the volume of bad loans on all of the major banks’ balance sheets.
The French go to the polls next year and the word is that the canny punter is putting a few pounds on the far right National Front getting into power. Marion Le Pen, its leader, has said that if they are successful they will leave the eurozone immediately and restore the French franc.
Considering that this similar sentiment resonates across a lot of the European countries, there can be no doubt that these are hugely interesting and important political times.
In any country, uncertainty and political instability has an affect on the local economy and local businesses - and ours isn’t any different.
Recently I took part in a Brexit podcast with a London based media company. They were trying to understand the views of Northern Ireland people. In trying to give a balanced view in relation to Brexit and Northern Ireland the one thing that is unquestionable is that we will have a land border with a European country.
For me, it’s quite straightforward - political leaders in Belfast and Dublin need to work tirelessly and coherently to mitigate any potential adverse affects of Brexit on its citizens.
It is important for all of us to set aside our own personal beliefs and alliances to arrive at the best possible scenario for the island. All of the political parties need to come together and agree a political plan and a business plan that will deliver hope, peace and prosperity to all of its citizens.
The Republic of Ireland is our main trading partners, we share a land border with them, we fight like tigers for one another on the rugby pitch and under the same umbrella with many other sports, therefore it is imperative that we up our game and keep an open mind as to how the future might play out.
It's important to be optimistic and look for opportunities in this new and ever changing landscape, in any organisation that is key.
There is no doubt that we are in the midst of change which is now beyond our control. But we all can certainly play our part in what the potential and economic outcome is and how it affects us and our local economy.
Finally a parting thought for 2017 – ‘a wise man adapts himself to circumstances as water shapes itself to the vessel that contains it.’
:: Conor Devine (conor@gdpni.com) is principal of GDP Partnership (@EquityExpertsNI) which specialises in mediating with banks.
