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The idea is not as ridiculous as it may seem at first glance. Apple, Google, Microsoft and a few other tech companies are together sitting on far more cash tha

by cs702 12y ago

The idea is not as ridiculous as it may seem at first glance. Apple, Google, Microsoft and a few other tech companies are together sitting on far more cash than Greece owes to its creditors. The author proposes these companies bail out Greece in exchange for permanent low taxes on non-US operations.

IshKebab 12y ago
"Permanent" Yeah right. The author somehow mentions that Ireland scheme is doomed, but somehow Greece is immune. Certainly not a risk that is worth $200bn!
- giarc 12y ago
  You must not have read any further than that. They talk about why the Greece deal might get EU approval and even US approval. Hint, they both stand to lose tons of money if Greece fails.
  - autokad 12y ago
    governments are fickle, especially the US. all it takes is 1 administration change (up every 4 years) and that deal is over. I for one, if I was an elected official would not let it stand. Allowing a select group of large corporations to evade taxes and have a huge advantage over all other companies? no thanks.
    - giarc 12y ago
      Yes but the consequences of breaking it up once it's started is collapse of the eurozone. International markets would be hammered and every rich person in the US would be banging on the presidents door. It would be political suicide.... if this highly theoretical thing actually happened.
adventured 12y ago
If Greece remains in the Euro, most likely that deal would not be allowed. Most of Europe is already annoyed at the existing low-tax schemes. If Greece exits the Euro, the Euro group would pass legislation compensating against the Greek deal, effectively nullifying the new tax scheme. There's zero chance such an arrangement either is allowed to work, or if put into practice ends up having enough financial returns after the Euro group responds to it that it justifies the extreme risk.
- cgio 12y ago
  Not disagreeing with your general assessment, but there is also the scenario that Greece leaves the Eurozone and remains in the European Union. In that case no legislation can be passed to compensate against the Greek deal without Greek consent at the European level.

by cs702 12y ago

IshKebab 12y ago

"Permanent" Yeah right. The author somehow mentions that Ireland scheme is doomed, but somehow Greece is immune. Certainly not a risk that is worth $200bn!

giarc 12y ago
You must not have read any further than that. They talk about why the Greece deal might get EU approval and even US approval. Hint, they both stand to lose tons of money if Greece fails.
- autokad 12y ago
  governments are fickle, especially the US. all it takes is 1 administration change (up every 4 years) and that deal is over. I for one, if I was an elected official would not let it stand. Allowing a select group of large corporations to evade taxes and have a huge advantage over all other companies? no thanks.
  - giarc 12y ago
    Yes but the consequences of breaking it up once it's started is collapse of the eurozone. International markets would be hammered and every rich person in the US would be banging on the presidents door. It would be political suicide.... if this highly theoretical thing actually happened.

adventured 12y ago

If Greece remains in the Euro, most likely that deal would not be allowed. Most of Europe is already annoyed at the existing low-tax schemes. If Greece exits the Euro, the Euro group would pass legislation compensating against the Greek deal, effectively nullifying the new tax scheme. There's zero chance such an arrangement either is allowed to work, or if put into practice ends up having enough financial returns after the Euro group responds to it that it justifies the extreme risk.

cgio 12y ago
Not disagreeing with your general assessment, but there is also the scenario that Greece leaves the Eurozone and remains in the European Union. In that case no legislation can be passed to compensate against the Greek deal without Greek consent at the European level.