Earlier quoted context omitted.
>The Irish people benefits when subsidies to French, British or German corporations are curbed. Are you serious? Subsidies to German and French corporations were not curbed they were replaced by the ludicrous loans that the Germans and the French give out to the "poorer" and "less industrious" EU member states so they in term can go around and buy German goodies. And when this Ponzi scheme blows up because of a finan…
They forced Ireland to 'take one for the team' and prevent contagion by repaying bad commercial bank loans from overseas banks to the failed Irish banks. In other words they prevented Ireland from doing an Iceland. They hinted that new, shared burden, measures, to be put in place, to cover such eventualities in the future, would be applied retrospectively to Ireland but they weren't. During the bailout term the EU/EC…
It did not control its currency or banks which are effectively controlled by the ECB.
It could not repay some or all of its loans with its own currency by simply printing more of it and the only way of getting more currency was taking on more loans.
What people also don't understand is that the laws preventing incentives aren't protecting the weak they are protecting the strong.
Germany can set its corporate tax rate at 40-50% and while people would bitch and moan it would do nothing. It's a huge market, it has a huge and highly developed workforce and it's one of the most industrialized nations on the planet with a highly developed and diverse industry.
It doesn't need incentives to lure corporations to set up shop and it doesn't need incentives to grow its own indigenous corporations and businesses.
If everything would be equal as far as cost of setting shop, employment and taxation between Germany and Ireland. Neither Apple not anyone else would give 2 cents about Ireland when they have countries like Germany available to them.
Many of these laws aren't protecting the smaller nations they are restricting them and preventing them from being competitive forcing them to be effectively dependent on the bigger nations for loans/credit which they give out to allow their industry to keep producing in excess.
Anyone who thinks that Germany loaning money to Ireland so they can go around and buy Volkswagen and BMWs isn't a subsidy are blind or clueless.
