11 September 2015
    
IN THIS ISSUE
Quintas Quarterly Newsletter
Introduction
A Nation Holds Its Breath
Tips On How To Deal With Your Creditors
QWM Article
Holiday Entitlements
Employment & Investment Incentive Scheme
Tax Update
Cork Institute of Technology Innovation Support Day - 6th October 2015
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A Nation Holds Its Breath
by Fachtna O'Mahony, Partner
 

The economy as ever remains a popular discussion point amongst people at present, be they “bar stool economists” or business people.  At a macro level events in China, Greece and Russia threaten to destabilise growth worldwide at present. In Ireland generally our economy continues to improve but many observe or indeed complain that regionally that’s not the case and that it's a two or three speed recovery with Dublin pressing ahead at pace and the rest of the country not witnessing or just starting to experience the long awaited green shoots. In my opinion there's little to contradict that view. Apart from exports and employment the obvious key drivers of a small open economy such as ours include infrastructural projects, and tourism to name just two. Yet locally we’ve seen the long awaited Cork-Limerick Motorway shelved, and the continued downgrading of Cork Airport, not allowed out of the shadows of the DAA. While decisions such as those continue to permeate the regions will in my opinion remain a decade behind Dublin in terms of benefiting from any recovery.

As a keen observer of business in rural Ireland I have concerns that the poor weather throughout the summer may stymie any prospects for whatever minor recovery the regions were experiencing for a while. This year, enthused by the great summers of 2013 and 2014 and with a certain degree of patriotism we chose to have our family holiday in West Cork. As always we had a very enjoyable time, despite the weather but I couldn't fail to notice that mid-week was extremely quiet even in peak season. There's no doubt in my mind that while the hotels in the towns and cities around the country are performing reasonably well, at a micro level the bars, restaurants, businesses and holiday parks around our coastal villages are suffering largely because of the poor weather. Rural Ireland needs a catalyst to put some momentum into the fledging recovery, something to generate the feel good factor and as ever sport may have a role to play here.

"A nation holds its breath"  some 25 years after George Hamiltons commentary as David O'Leary stepped up to take “that penalty” the words still evoke memories of June 1990 when the nation was gripped by Italia’90 fever and the exploits of our soccer team during the world cup. That tournament enthralled the country for the summer, inspired Roddy Doyle to write The Snapper and be it convenient economical mathematics or not, is at least in part credited with assisting the country out of the recession of the mid to late 80's and starting the economic recovery that lasted over 15 years.

There have been a many great sporting moments in the interim, USA'94, Munsters march towards the holy grail of the Heineken Cup, Katie Taylor at the Olympics to name but a few. As the Rugby World Cup approaches, we have good grounds for guarded optimism and I wonder and hope that apart from providing the nation with yet another great sporting occasion could it also be the catalyst the regenerate the “feel good factor” around the entire country, especially beyond The Pale.

Both my sons are interested in mathematics and rugby so I asked them to calculate the probability of Paul O'Connell taking the winning penalty kick in a Rugby World Cup Final.  After much discussion and calculation I'm told it's possible but extremely remote. We'll settle for him or indeed anyone in green scoring the winning try instead, mathematically that’s less remote. What a fitting end to the Irish career of the great Paul O’Connell that would be. So for a bit of comic relief much like Roddy Doyle with The Snapper I started to pen out own story around the Rugby World Cup however unlike his classic, my untitled story focussed more on the on-field activity.

My dreamt up finale was drawn from some iconic Irish rugby moments, a sort of cross between the Ginger McLoughlin try in 1982, the Ciaran  Fitzgerald cry to arms in 1985, The Mick Galwey try of 1993 and the Paul O’Connell line out jump of 2007 coincidentally all of them against the old enemy! It goes something like this -

A minute left and Ireland have a lineout on the English 22. O’Connell leaps even higher than he did in 2007 to secure the ball.  The maul moving slowly towards the English line stalls, the fired up Paulie with blood streaming from a wound, looks to the skies and asks Where’s your f**king pride?

Frenzied Irish men start jumping out of the stands to join in and lend their weight to put momentum into the maul. English jerseys are sprawled all over the Twickenham turf as Ireland crash over for the winning try just as the clock goes red.  

A massive home coming is organised so the politicians can relive their own failed rugby careers, and gather votes for the impending General Election. In an ironic twist of fate due to Air Traffic congestion in Dublin Airport caused by their increased traffic volumes the players flight home has to divert to Cork. The vastly experienced pilot has a minor difficulty finding Cork Airport as it’s over a decade since he landed there but that delay doesn’t deter the huge crowds that worked their way through the tumbleweed at the arrivals hall to greet the players as they arrive…..

Townsand villages all over the country celebrate, the feel good factor finds its way out past the M50 and all is well again in rural Ireland. At least we can dream.... A nation hold its breath!

If you could write the World Cup finale what would yours be? And what would be the title of your book?

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