Listening to the telecoms and technology industries over the recent past, one would think not only that Ireland was no longer in the running to become the e-commerce hub of Europe but that it was about to be demoted from the Premier League altogether.

Before we all rush for the exits, it would be worth examining the scene elsewhere. Take, for instance, the United States, held out to us all as a pace-setter in technology.

Yet, the US is several steps behind Europe in mobile phone technology, the bedrock of the wireless revolution which, we are assured, will be the future of technology.

That is not to say that the unseemly squabble between the telecoms regulator and the Department of Finance over the price to be paid for the next generation of phone licences is doing this State any favours in attracting technology business. But, truth be told, we are currently more likely to lose business through our inability to supply sufficient electricity to industry than a lack of 3G licences.