CONCERNS ABOUT EURO PERSISTING - Moody's this morning sounded its latest warning on the euro area by saying the creditworthiness of all European countries is under threat. One Irish man who has been down on the euro for quite some time is Patrick Lawless, managing director of Dublin-based Appian Asset Management. The company has approximately €200m in funds under management
Patrick Lawless says he is not an advocate for the break-up of the euro, but after the poor news from the euro zone last week he now believes there is a 50% chance of a break-up. He says that Appian Asset Management first become concerned about the euro back in September 2010 and has been advising clients on products to get out of the euro since then, but he adds that he is not advising people to pack their suitcases full of euro and head to Switzerland. He says that ultimately the euro can get sorted out, but strong leadership and a credible plan is needed.
***
VERSION 1 TO CREATE 90 JOBS AS EXPANSION CONTINUES - 90 new positions will be announced at rapidly growing IT management consultants company Version 1 today. The company started with two people in 1997 and €60,000 in revenue to 300 employees today.
Version 1's managing director Justin Keatinge says that the company is halfway through a recruitment drive, which saw it take on 90 people this year with plans to take on another 90 next year. He says the company now employs 300 people and wants to continue growth both in Ireland and abroad. Mr Keatinge says that despite its success, Version 1 will not be seeking a flotation and that it doesn't need funds to continue its expansion plans. He also says there is no plans to sell the company. The Version 1 boss says that the biggest constraint on the company's growth plans at the moment is the lack of skilled workers. Mr Keatinge urged the Government to fast-track the work permits system so as to allow the required workers into the country.
