Saturday, January 15, 2011

Ireland, Intel, Tax and the Euro powder keg.

President Sarkozy of France effectively demanded Ireland raise its corporation tax rate this week, one report was in the Irish Examiner, read here.  Intel, the computer chip maker announced record results yesterday and this morning the Irish Times headlines new investment by that giant corporation in Iraland, creating 850 construction jobs and 200 high tech positions, read here.

The EU/IMF package has yet to be passed into law, the Taioseach is canvassing his party as to when he must stand down, read here, a general election is imminent and there is barely an economist to be found across the entire globe who believes that the EU/IMF package will cure Ireland's woes.

Yet the EU elite seem to imagine the Irish problem is solved and lectures on tax rates are considered as appropriate, my own, not inconsiderable portions of Irish blood, tells me that this is a tale with far to go!



Blogger Robert said...

The Irish have only themselves to blame for this take-over by the EU. They supped with the devil in taking the subsidies and having for a long time lived beyond their means they are in desperate trouble. They rejected the chance to stop the EU train on several occasions and are now reaping the rewards.

They have shown that low taxes will grow their economy. The EU will not allow them to repeat this experience and shackled to the Euro they are doomed.

They are themselves to blame for this sorry episode, but unlike us here in the UK they voted for it (eventually and repeatedly).

11:51 AM  

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