This poses challenges for business managers and requires them to use, or develop a much larger range of managerial competencies than if they operated solely in their domestic market.
If the shortcomings of financial engineering were a main cause of the global crisis, yet contracts tailored with its elementary techniques still have the potential to transform the financial viability of stressed borrowers. After all, official creditors have now taken on the burden of holding the majority of Irish debt – at least so far as the State and the Irish-owned banks are concerned.