5 2 mins 11 yrs

You have to laugh at the naiveness of it all.

An overwhelming majority of Irish people have endorsed Taoiseach Enda Kenny’s refusal to budge on Ireland’s corporation tax rate during intense clashes with German and French leaders Angela Merkel and Nicolas Sarkozy. Any climbdown by the Taoiseach on the issue would represent a case of “economic and political suicide”, Michael McDowell, the former Progressive Democrat leader, said yesterday.

According to the latest Sunday Independent/Quantum Research Poll, 78 per cent of people think Mr Kenny was absolutely correct to refuse to offer “a gesture” to Mr Sarkozy in terms of our corporation tax rate in return for more favourable rates on the €85bn IMF/EU bailout. People polled on Friday night saw the Irish corporation tax rate as the ‘bedrock’ of our multinational employment base and export figures.

The idea that Kenny will swagger in to Brussels, tell the EU bosses who now own Ireland that he will not accept any hike in Corporation Tax but will insist on a lowering of the interest rate charged on the Bail-Out loans, is Irish fantasy. It simply will not happen. The ONLY way Ireland can save itself is to leave the EU. But the political elite are determined to remain at the table. So this is play-acting and the Irish people need to reconcile themselves to the harsh reality that IF they are in the EU, then they abide by the terms and conditons. These are set by Germany and France and the rest if mere detail.

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5 thoughts on “HIGHER TAXES OR LOWER INTEREST RATE?

  1. I also think that Ireland should leave the EU. I think that Britain should do likewise along with Greece, Portugal, Spain and Italy. That should put paid to the EU which is, afterall, the most undemocratic, autocratic and bureaucratic organisation we could imagine.

  2. Tony Blair made a “gesture” to the French by foregoing the rebate that Mrs Thatcher had negotiated. As far as I am aware he got nothing in exchange except a promise that the French would think about doing something!
    Good for the Irish. Don’t budge an inch (or even a centimetre). There is little that they can do other than throw you out of the EU.

  3. EP –

    Yes, in return for a rebate of our money the French promised “to look at” the Common Agricultural Policy, otherwise known as the French Farmers’ Pension Scheme.

    They did for a moment then fell about laughing.

  4. Actually, the CAP was reformed, though only its abolition will do.

    At least the link between production and subsidy was broken, so no more wine lakes.

  5. Ireland doesn’t need to leave the EU. It simply needs to leave the euro and offer its creditors (say) 60%, i.e. a “haircut” of 40%. Everyone knows that a haircut is inevitable at some point, so why not get it over with?

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