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Dear newly-created "Irish" account, all of your critique misses the mark. The author is very obviously not racist, and has not mentioned headline corporate tax

Dear newly-created "Irish" account, all of your critique misses the mark. The author is very obviously not racist, and has not mentioned headline corporate tax rates at all. The eagerness of successive Irish goverments to facilitate zero corporate tax payments across the EU by US corporations in exchange for a few thousand jobs, via tax evoision schemes such as the Double Irish, the Single Malt and its current successor the CAIA is very well known. As is the deliberate sabotage of EU-wide GDPR legal enforcement by the Irish regulators at the DPC. If you can't see why the Irish EU membership is a net liability for the bloc, you are blinkered.

piltdownman 3y ago
I think you'll find the comment section of Junge Freiheit a more receptive forum for these sort of fantastical economic hot-takes. As for your incredibly racist proposition that Irish EU membership is a net liability for the bloc, it was never an issue when Ireland’s supposed light-touch, low tax regulatory regime complemented German banking’s hunt for new, profitable opportunities - indeed Germany’s Schröder administration actively encouraged the internationalisation of German banks, inciting a two decade process of bank deregulation continued by the first Merkel government and a hybrid regulatory system that nearly bankrupted the EU. As German economist Prof Henrik Enderlein of Berlin's Hertie School of Governance put it “For the bankers it was always clear: the German government would never allow big German banks go broke, there was an implicit guarantee for them. It was as if you gave a gambler multimillion loans and sent him into a casino.” The problem is it wasn't multimillion. It was multibillion. The Irish state ended up guaranteeing €73 billion at the end of 2012 – for everything from senior unsecured bank bonds to deposits over €100,000 - under immense pressure from the ECB. Sahra Wagenknecht, Economist and 14 year veteran of the Bundestag summed it up very succinctly "To this day many people in Germany believe, wrongly, that rescue plans in assist the populations in each respective country, paid for by German taxpayers. Things are the other way around: the Irish population will probably have to spend decades bleeding for the speculation of German banks." Andres Veiel, the esteemed German film director and screenwriter, went so far as to crystallise the Issue in 'The Raspberry Reich'. As he bluntly and accurately puts it: "The problem is there's no readiness here in Germany to think things through to the end, such as how the link between risk and liability was broken in Ireland's case so that investors, including German banks and their shareholders, could get away without covering their own losses."

piltdownman 3y ago

I think you'll find the comment section of Junge Freiheit a more receptive forum for these sort of fantastical economic hot-takes. As for your incredibly racist proposition that Irish EU membership is a net liability for the bloc, it was never an issue when Ireland’s supposed light-touch, low tax regulatory regime complemented German banking’s hunt for new, profitable opportunities - indeed Germany’s Schröder administration actively encouraged the internationalisation of German banks, inciting a two decade process of bank deregulation continued by the first Merkel government and a hybrid regulatory system that nearly bankrupted the EU. As German economist Prof Henrik Enderlein of Berlin's Hertie School of Governance put it “For the bankers it was always clear: the German government would never allow big German banks go broke, there was an implicit guarantee for them. It was as if you gave a gambler multimillion loans and sent him into a casino.” The problem is it wasn't multimillion. It was multibillion. The Irish state ended up guaranteeing €73 billion at the end of 2012 – for everything from senior unsecured bank bonds to deposits over €100,000 - under immense pressure from the ECB. Sahra Wagenknecht, Economist and 14 year veteran of the Bundestag summed it up very succinctly "To this day many people in Germany believe, wrongly, that rescue plans in assist the populations in each respective country, paid for by German taxpayers. Things are the other way around: the Irish population will probably have to spend decades bleeding for the speculation of German banks." Andres Veiel, the esteemed German film director and screenwriter, went so far as to crystallise the Issue in 'The Raspberry Reich'. As he bluntly and accurately puts it: "The problem is there's no readiness here in Germany to think things through to the end, such as how the link between risk and liability was broken in Ireland's case so that investors, including German banks and their shareholders, could get away without covering their own losses."