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, Nov 22, 14:03:20