Every now and again an article pops up on the internet that makes you do a double take.  I came across this one today: ‘If Ireland is as bad as it gets, there’s no need to worry.’  My first thought is, ‘you’ve got to be joking!’  I doubt there are few people in Ireland, well at least those without their heads buried in the sand hoping the dire situation somehow miraculously goes away, who are not scared witless about the country’s perilous situation.  There’s a reason why people are talking about the IMF coming in and ideas such as a National Government are being floated about.  And this is an article about the financial sector in Ireland.

But perspective is everything. From the viewpoint of those working in the finance sector, things are not great, but not completely dire apparently.  It seems that the finance sector is holding up remarkably well on the employment front, for now at least.  Staff might be demoralised and their pay frozen, but the sector has not been totally decimated by job losses and some sub-sectors has been growing again.  The Irish financial sector appears diverse enough to weather the storm, with a range of companies in the IFSC compensating for a weakened domestic banking sector.  From that perspective, it ain’t too bad apparently; money making the world go around and all that.  Don’t get me wrong, it’s great that the sector’s holding up (and hopefully now properly regulated).  The rest of us, I suspect, are still scared witless.

Rob Kitchin

 

 

 

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