In a marked development, several grim predictions have surfaced concerning the systemic risks to Ireland’s economic structure, owing to its reliance on foreign direct investments. Linda Doyle, the Provost of Trinity College Dublin, has voiced her concern about potential threats to Irish educational institutions. She predicts a “gradual and silent downfall,” along with a “slow withdrawal from being competitive and appealing” (News from 13th September). Doyle raises doubts about their ability to offer a top-tier education and execute high-quality research given the financial constraints. This level of education is indispensable in the current information-driven economy.
These remarks resonated with what was conveyed by Cathy Kearney, the Vice President of European Operations at Apple. In the same week, reports suggest that Kearney expressed her concern to Enterprise Minister Peter Burke about the “lagging development of infrastructure”, particularly the road networks connected to Apple’s Cork-based facility in Ireland (News, 12th September). She mentioned that this situation is hampering Apple’s expansion plans in the region.
Furthermore, the subsequent implications of the European Court of Justice’s judgment that Ireland had unlawfully provided state aid to Apple, have reignited anxieties around the impact on Foreign Direct Investment (FDI). This ruling brought to light new queries concerning other foreign multinationals operating in the nation (“Apple and Ireland: A tale of two tax sweethearts”, Agenda, 13th September).
The threat of gradual decay outlined by Prof Doyle, evokes a poignant line from a dialogue in one of Ernest Hemingway’s works. The protagonist asks, “How did you become bankrupt?” to which the character responds, “In two ways. Gradually, then all at once.” (from Jane Mahony, Ranelagh, Dublin 6).