So it was nothing to do with the ridiculously low corporation tax levels which were

initially funded by EU subsidy, with the government inviting all and sundry in, creating the Celtic Tiger, and then realising that they couldn't raise the corp tax once subsidies were reduced / stopped because the companies they'd enticed in would simply leave Ireland ?

That chain of events had already begun before the Euro. Everyone could see that ending in tears but, as humans do, too many Irish rode the crest, buying second and third homes, getting 110% mortgages, etc.

Posted By: Steve in Holland on November 22nd 2010 at 14:03:20

Message Thread

?We are not just defending a member state but our common currency? said Wolfgang Schaeuble (General Chat) - Old Git, Nov 22, 13:18:56
- Because thousands of us have our companies based in Ireland because of tax (General Chat) - Hulk Rules, Nov 22, 13:44:16
- I thought ther 7Bn was our contribution to the ventral fund. The other loan he's promised (General Chat) - CB41, Nov 22, 13:42:12
- Robert Peton says we'll make money on the loan (General Chat) - giant_Ullaa, Nov 22, 13:35:46
  - Not really. I think the intention is always to make money on a loan. (n/m) (General Chat) - yarmyyarmy, Nov 22, 13:36:33
    - all I'm saying is that it's been dressed (General Chat) - giant_Ullaa, Nov 22, 13:38:48
- Only fair after 800 years of subjugation (General Chat) - yarmyyarmy, Nov 22, 13:30:46
  - True. We have written in very small print at the bottom:- (General Chat) - jafski, Nov 22, 13:32:40
- so who will be moved up in the line of creditors? (General Chat) - Ralf Scrampton, Nov 22, 13:23:38
  - If they don't go bust, there's no question of "moving up the line of creditors" (General Chat) - Old Git, Nov 22, 13:31:18
    - it's all about controlling the winding down of the banks and the country now (General Chat) - Ralf Scrampton, Nov 22, 13:38:22
      - That's 3 weeks old (General Chat) - Old Git, Nov 22, 13:42:23
        
        8:02am on this link (General Chat) - Ralf Scrampton, Nov 22, 13:49:48
        
        Ah, Dick Roche, that sage (General Chat) - Old Git, Nov 22, 13:54:58
        
        the idea that Ireland could sort out these problems if they could just devalue their curre (General Chat) - Ralf Scrampton, Nov 22, 14:08:24
        
        So it was nothing to do with the ridiculously low corporation tax levels which were (General Chat) - Steve in Holland, Nov 22, 14:03:20
  - Psssst Ralf. (General Chat) - jafski, Nov 22, 13:27:40
    - stop stirring you torture-defending, war-mongering, liberty fucking, Peter Mandelson lovin (General Chat) - Ralf Scrampton, Nov 22, 13:33:04
      - None of the above I'm afraid. (General Chat) - jafski, Nov 22, 13:37:08
        
        ha! (General Chat) - Ralf Scrampton, Nov 22, 13:44:16

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