How things are done in european democracy. Keep voting till powers get their desired result.
on 08/31/2009 at 08:00 AM
One of the reasons companies like Intel and Microsoft set up in Ireland in the first place was the low corporation tax, something like 12% compared to an EU average of 25% (I don’t have the exact figures) Ireland’s economy was booming for a long time as the EU pumped money into them (from countries like Germany, Holland and the UK who shelled out). Now the EU is proposing to harmonise the rates of Corporation tax and Intel etc. will just up sticks and move to Poland where the wages are lower.
The Irish were the only country to be given a referendum on the Lisbon treaty after the original version was rejected by France and Holland. I suspect the EU will bully and bribe their way to a yes vote this time. In the longer term the Irish are shafted. They signed up to the Euro but most of their trade is with the UK and the pound has collapsed from £1 = €1.50 to £1 = €1.15 making UK imports cheap and Irish products uncompetitive. They are beholden now to Brussels. They are unable to set their own interest rates as this is done by the European central bank. In the medium term they are being destroyed by this.
And so Ireland joints the rest of the British Isles on the steep decline into the abyss.
Posted by Turtler
08/31/2009 at 11:06 PM
08/31/2009 at 12:46 PM
