Nations succeed because they are ruthless in pursuit of their goals; good and bad. Western politicians have decided the big issue is illegal migration – making it conditional and a priority in front of the really important challenges around growth, stability, geopolitics and avoiding conflict. Its Political Failure of the Worst Kind.

Events of the last few weeks highlight a new instability for markets. The Rise of the Right has implications in terms of investment priorities, law and markets, bonds and currencies, multiple consequences and the future outlook for economies.