IT'S said that underdog Tyson Fury only has a puncher's chance in his big fight with heavyweight icon Wladimir Klitschko, a valid description of the four Welsh regions when they head into Europe.

We should be thankful for that. Recent financial constraints for the quartet combined with growing English and French budgets could easily have turned things into the equivalent of Anthony Joshua versus a nightclub doorman.

Big wage bills = better chance of success.

The Welsh will usually be put on the canvas but often give opponents a bloody nose and occasional shock wins, like Hasim Rahman downing Lennox Lewis, happen.

Sadly that wasn't the case for the Ospreys but their performance in defeat at Clermont Auvergne was so heartening. Such spirit, such determination to emerge from the Stade Marcel Michelin with a pair of bonus points.

At times it's fine to laud plucky losers and the Liberty Stadium side will add great value to their late really for extras if in December they double Bordeaux-Begles, another team with a whopping budget but not Clermont's Euro pedigree.

Newport Gwent Dragons were in a similar position last weekend, travelling back from a Top 14 side with a mixture of contentment at getting something for their efforts and frustration at not quite getting over the line.

Like the Ospreys, how they reflect on their bonus in Castres depends on a double date with French opposition, Pau in their case.

The Dragons are once again relishing the Challenge Cup.

Sure, teams often rotate their squads and underestimate the men from Rodney Parade but the bigger salary packages belonged to Castres' second string. They certainly belonged to Stade Francais' Morne Steyn, Digby Ioane, Remi Bonfils and Krisnan Inu when the Dragons won in Paris last year.

At the moment the Dragons have a puncher's chance wherever they go; they don't have a whopping squad or great consistency but they are a dangerous if they click and can trouble most sides.

But the worry here in the east remains about how the other three will target increasing their competitiveness. While English and French budgets grow at pace, the Welsh has a small increase… how do they make the most of that?

There will be those in the far west suggesting that, as traditionally more competitive sides, they should get a larger slice of the pie.

Whatever the approach, let's just hope that Newport Gwent Dragons keep having a puncher's chance. We are not expecting them to suddenly be contenders, just for them not to be punching bags.

IT used to be traditional in some quarters to use Irish success as a stick to beat the Welsh quartet with every Easter.

While Leinster, Munster and Ulster were enjoying knockout rugby in the Heineken/Champions Cup, the regions were looking on.

Q: How can they do it while the Welsh couldn't? A: Big budgets despite large IRFU debts.

Thankfully we are likely to be saved that analysis now that belts are being tightened slightly while the English and French are undoing the trouser button.

They still enjoy more funding than the Welsh but aren't splashing the cash for the likes of megastars Rocky Elsom or Brad Thorn while the coaches at the helm in Dublin and Limerick are novices in Leo Cullen and Anthony Foley rather than seasoned bosses from the southern hemisphere.

Winless Leinster look doomed in their nightmare group with Wasps, Bath and Toulon while Ulster are up against it after suffering a thumping home loss to Toulouse.

Munster started with a slightly sluggish bonus-point win against Treviso and need to up their game against Leicester and French champions Stade Francais.

The consolation is that Pat Lam's Connacht could go all the way to Lyon in the Challenge Cup, especially if they earn Galway advantage for the knockout stages.

This season it probably won't be an examination into how Wales is getting it dramatically wrong. Instead it will be pondering how the Guinness Pro12 can compete with the Aviva Premiership and Top 14.