Ireland to requests Euro bail-out.

[politico]

ireland was fighting tooth and nail not to have to take this money as one of the preconditions was that they would have to substantially raise corporation tax. One of the main drivers of the so called Celtic Tiger was the relocation of 7 of the 10 largest multi nationals (google,microsoft) etc due primarily to low corporation tax.

Any last semblance of national sovereignty dies with the need for this loan. Question is where does this end with Spain and Portugal not too far down the same track as Ireland and Greece.

 

[cheshunt seagull]

If the RoI had not joined the Euro would they be in such finacial shit, maybe they should have stuck with the Punt at least the could make there own decisions.

Thank f*** we never did or will join it.

Possibly insane and unregulated lending by banks based on an unsustainable property boom and a government with a far too cosy relationship with those same banks and property developers may have also been a factor.

 

[Tony Towner's Fridge]

One of the biggest negatives from an UK perspective of the Southern Irish Tiger economy explosion of the 90s was the Northern Irish and to a lesser extent Scottish and Welsh economies and to an even lesser extent still the English economies. Many hundreds of millions of pounds worth of engineering and manufacturing investment that was at most earmarked and at least planned for these areas was diverted by multinationals into Eire where reduced corporation tax and equally important, the offsetting of 100% of investment against corporation tax, was so attractive. The long term negatives for the UK are not only the obvious loss of large corporations who actually make things but the associated declining skill base and ultimate skill and competency shortages.
The last government had ample opportunity to redress the balance and offer incentives which would have both helped the UK economy and perverse as it sounds, ultimately reduce the hard landing that Eire are now experiencing. Essentially areas at the extremeties of Europe's core need incentives to redress geographical disadvantages. Now is the time for, the UK and Eire governments to act and stimulate our weak manufacturing sector.

TNBA

TTF

 

[The Spanish]

not all of ireland has been bailed out. dont want to split hairs but ever since a bbc reporter stated that 'ireland is a vital trading partner of britain's' (staggering unless their style guide has been radically altered and they have stopped collecting the licence fee in the part of ireland where they are still the state broadcaster), it has been getting on my nerves a bit.

 

[withdeanwombat]

Bloody Gordon Brown.

 

[beorhthelm]

It doesn't fit well with this Government's claim the country is bankrupt. How come we couldn't afford a loan for the Sheffield forgemasters but we can find £7 billion to bail out Ireland? To say we're getting mixed messages from this government is an understatement

dont know about the Shffield thing, but the money talked about for this is already budegted for. it is mixed message, but half the time the governement and tabloid media cant be arsed to properly explain it, so people complain and shout bout how unfair things are.