Welcome to IT Sunday, your weekly briefing of some of the best Irish Times journalism for subscribers.
This week, the European Central Bank announced it was increasing its main rates by 0.5 percentage points, marking the first hike in euro zone official borrowing rates in 11 years. In the wake of the news, Cliff Taylor penned a number of explainers: one parsing what the development means for mortgage holders; and another which analyses the move by the ECB and the new era faced by borrowers. “If you tried to create a more difficult backdrop against which the European Central Bank is increasing interest rates, you could hardly find one,” writes Taylor.
With talk of a recession around the corner, David McWilliams predicts that whatever slump comes along this time will not be nearly as bad as 2008. “In the same way as there was every reason to panic in 2008, there is no need to panic right now. We are seeing normal crowd dynamics taking hold. Critical metrics are not so out of whack. Debt-to-income ratios are okay; so, too, are debt to asset prices; national cash flow is reasonably buoyant; and, systemically, the global financial system, though stressed, is not near cracking point as it was in 2008.” Read the full piece here.
Economic gloom aside, Fintan O’Toole recently found himself in a different type of abyss; one where official advice said there was a risk of “serious injury or death”, simply from being outdoors. This wasn’t Badwater Basin – a hot, dry wasteland nestled in California’s Death Valley – but London; a city dazed this week by 40-degree heat. Nature, says O’Toole, is lighting fiery beacons of warning about the climate, but we are getting used to them: “We can, after all, get used to almost anything. The capacity to adjust and adapt is what has made our species so good at inhabiting the Earth. But it is also what could make us so bad at keeping it habitable.”
Much sports coverage early this week focused on rugby; namely, Ireland’s historic series win in New Zealand. Some of the discussion invariably touched upon what such a triumph might mean in the context of next year’s World Cup. For Gordon D’Arcy, the achievement was something that should be celebrated on its own. The green fields of France can wait, he said in his weekly column; sometimes it is perfectly acceptable or reasonable to pause and enjoy a moment in time without trying to find a place for it in the context of future assignments. Ireland’s outstanding 2-1 Test series win in New Zealand should be celebrated for what it is rather than trying to figure out what it might stand for in 14 months’ time.
Ahead of today’s All-Ireland football final, where Galway will face Kerry at Croke Park, Keith Duggan reflects on memories of “maroon magic” through the decades. “It is reasonable to hope, when you see the maroon shirts on parade, that you might witness some spark of ineradicable genius that stays lit long after the game, the day, the year and the prosaic details have been forgotten. That moment that stays suspended above the passing of ordinary time. That’s the thing Galway have got going for them,” he writes.
Meanwhile, Malachy Clerkin writes how David Clifford carries the torch for Kerry, just as Maurice Fitzgerald did before him. “You saw the seven points against Mayo in Killarney in 2019, the eight he scored against Tyrone last year, some of them on one leg. You saw him burn Mayo in the league final and again last month – and again on one leg. You know he is exceptional, in the literal sense of that word. He does things that nobody except him can do,” he writes.
Joanne Hunt looks at the nerve-racking experience of starting a new job this week, and speaks to an expert on how best to succeed in a new role. “It’s vital to understand how your manager measures success and what their expectations are,” psychologist Keelin O’Dwyer tells her. “When you begin a new role, have a conversation specifically around the ways success is measured in the company,”
Sex and relationships expert Roe McDermott responds to a reader who is worried they slept with a man they are interested in too soon. “While we seem to be getting on really well, he isn’t texting me apart from to arrange to meet again,” the reader says. “There are no in-between chats which is making me anxious . . . Does this mean he isn’t that interested in me?”
Meanwhile, in her Tell Me About It column this week, Trish Murphy responded to a person dealing with feelings of loneliness and isolation years after the breakdown of a relationship and living in the countryside. “I do not wish to get into another relationship for the sake of company,” says the reader. “I have never actually been in love, at least not in the way that others describe. I just wish I did not feel so alone.” Read Murphy’s response here.
As always there is much more on irishtimes.com, including extensive coverage, commentary and analysis on this weekend’s GAA All-Ireland final between Kerry and Galway in our sport section (on that – here is everything you need to know ahead of the match). You can also find rundowns of all the latest movies in our film reviews, and tips for restaurants to suit all tastes in our food section. You can always check out more articles exclusively available for Irish Times subscribers here.
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