Cornucopia
Page 84
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“Balance is what it all about Michael,” Pat had told Fitzwilliams in November. The CEO looked at him sourly as he fretted about Russia and the prospects of China’s economy being dragged under by its shadow banking system.
“If Russia is looking weak,” continued Kennedy cheerfully, “the UK is well on the mend, Europe has stabilized and China is working on its problems.”
“In a nutshell, so to speak Pat!”
“Yesh, you can’t win on them all Michael. That’s our strength … our operations from the Atlantic to the Pacific.”
“It depends on the direction, right now I feel a little better if it was westwards.”
Pat looked nonplussed.
“The US Pat!”
“Well our branch in New York is doing well.”
“Small cheese. We’ve not really paid enough attention to the American turnaround .... Anyway, what’s the news from Hong Kong and Shanghai? I heard things are not looking so good.”
“Is that so Michael?”
Fitzwilliams said nothing. He was wondering if China was about to go belly-up; the third phase of the economic crisis that had stalked the world for nearly six years.
“Well the Brics are in a pretty shitty state,” snapped Fitzwilliams.
It was Kennedy’s turn to hold his tongue.
“Did you enjoy the New Year,” Fitzwilliams added drily.
At times he wondered if Kennedy’s focus on China was the result his wife’s influence. He would have liked to see him more concentrated on Russia, though undeniably their Chinese operations were very profitable.
“Yesh Michael, very much.”
’Well that’s good news!’
“Are you packed for Sochi?”
Kennedy said nothing.
“I’ve told Sergei you’ll be standing in for me.”
Pat absorbed the news silently before deciding it wasn’t such a bad thing. Michael was too conventional, besides he didn’t speak a word of Russian.
“Well if that’s what you want Michael.”
“I’ll be tied up in a treasury meeting and our Canadian friend, at the Bank of England, wants a briefing on our overseas activities.”
“There’s a problem?”
“Not for the moment.”
“Good, at least we’re better off than the silly feekers in Dublin today.”
“In Dublin,” said Fitzwilliams, obviously caught off balance.
“The trial.”
“Oh yes, Anglo Irish.’
“Well at least we’re not in the box with them.”
“Why should we?”
“Well it was touch and go at that time.”
Fitzwilliams said nothing. It was true. Anything could have happened in 2008 and it was Kennedy’s diversification into Europe that saved them.