Economics wins Irish Champion Stakes, skips Europe’s richest race
2024-09-15 13:04- Economics won the Royal Bahrain Irish Champion Stakes at Leopardstown, defeating Auguste Rodin.
- Trainer William Haggas decided to skip the Qatar Prix de l'Arc de Triomphe in favor of the Qipco Champion Stakes at Ascot.
- Haggas is optimistic about Economics' future, suggesting he may excel at longer distances next season.
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Insights
Economics achieved a significant milestone by winning the Royal Bahrain Irish Champion Stakes at Leopardstown, defeating last year's Derby winner, Auguste Rodin, by a narrow margin. This victory marked Economics' first win at Group 1 level, showcasing his potential as a leading horse in flat racing. Despite the triumph, trainer William Haggas announced that Economics would not participate in the prestigious Qatar Prix de l'Arc de Triomphe, Europe's richest race, opting instead to prepare for the Qipco Champion Stakes at Ascot. Haggas expressed confidence in Economics' ability to handle longer distances, suggesting that he may excel at a mile and a half in the future. However, the trainer emphasized the importance of allowing the horse adequate recovery time after the demanding race. The decision to skip the Derby earlier in the season was also a strategic choice, reflecting the team's cautious approach to managing the horse's career. The trainer acknowledged the challenges faced during the race, noting that jockey Tom Marquand had to navigate a messy situation but still managed to secure the win. Haggas believes that Economics will benefit from the five-week interval before the Champion Stakes, allowing him to recuperate fully. Looking ahead, Haggas remains optimistic about Economics' future prospects, hinting that the horse could be a contender for the Arc next year, especially considering the success of four-year-olds in that race. This careful planning underscores the commitment to nurturing Economics' talent while ensuring his long-term success in the sport.
Contexts
The Irish economy faces significant challenges as it navigates the implications of Apple's tax arrangements and the recent ruling by the European Court. The court determined that Apple's tax deal with Ireland constituted illegal state aid, requiring the company to repay €13 billion. This decision underscores the EU's commitment to combating corporate tax avoidance, revealing that Apple had paid a mere 0.005% tax on profits through its Irish subsidiaries. In addition to the tax case, Ireland's economic landscape is influenced by the establishment of Apple's facility in Cork, which employs 60 workers and operates under a no-clock-in policy. This development highlights the potential for growth in the tech sector, but also raises concerns about overheating in the economy. Moreover, Mario Draghi's report emphasizes the need for Europe to invest an additional €800 billion annually to enhance competitiveness, challenging the austerity mindset that has prevailed in some regions. Without these investments, Europe risks falling behind the US and China, which could further impact Ireland's economic prospects. These factors collectively illustrate the complexities facing Ireland as it balances opportunities for growth in the tech industry with the repercussions of international tax regulations and the broader economic environment in Europe.
