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Germany Sets Terms Of Ireland And Greece Rate Cut Concessions

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Only a headline on ZH for now.

Considering low corporate tax rates were the main driver behind the Celtic "tiger", how is Dublin going to respond?

And which celeb is going to bid first on a Greek island? :lol:

Edit: found another link

German Chancellor Angela Merkel has called on both Greece to sell state owned assets and Ireland to raise its corporate tax rate in exchange for cutting the interest rate on their bailout bonds, according to Bloomberg.

The comments were made during a behind closed door meeting of European leaders.

Edited by Greener Pastures

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Ireland should short themselves and then leak they are hiking the tax.

I think some big bank did the same and made a profit just after the accounts showed a massive loss because they were failing

but they had bet on failing in advance so issued a trading update to say they were now rich which if they hadn't gotten

out of the market would have resulted in renewed confidence followed by collapse as their accounts would move back into the red :huh:

Edited by northwestsmith2

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Out of interest where does Germany think Ireland will get the money from to pay the interest on loans if big business up sticks and leaves Ireland because of higher taxes?

To be fair, Merkel is only asking Ireland to remove an unfair competitive advantage, so Germany can keep screwing the PIIGS with its own: the Euro.

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"Out of interest where does Germany think Ireland will get the money from to pay the interest on loans if big business up sticks and leaves Ireland because of higher taxes?"

Oh, I suppose that when the Irish get to that point the Germans will tell them to start selling their assets.

And I wonder who will have the money to buy .... ?

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Out of interest where does Germany think Ireland will get the money from to pay the interest on loans if big business up sticks and leaves Ireland because of higher taxes?

Merkel is only pointing out to the Irish what their problem is. They want luxury public services but are not prepared to pay for them with taxation. I hope Merkel has a chat with Dave and George because we are the same.

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"Out of interest where does Germany think Ireland will get the money from to pay the interest on loans if big business up sticks and leaves Ireland because of higher taxes?"

Oh, I suppose that when the Irish get to that point the Germans will tell them to start selling their assets.

And I wonder who will have the money to buy .... ?

What assets have the Irish got to sell?

It's a beautiful country but it's hardly a sunny Mediterranean island you want to spend 2 weeks on to get a tan?

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Merkel is only pointing out to the Irish what their problem is. They want luxury public services but are not prepared to pay for them with taxation. I hope Merkel has a chat with Dave and George because we are the same.

I agree that Ireland has stupidly high subsidy for it's people, but Merkel should just point that out rather than pussy footing around.

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Just a guess but I suspect the Greek assets the Germans are focused on are not islands but public service providers: electric company, transport networks etc. These would provide German companies much more profit over the long-term than a few vanity bonus islands for rich people.

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Presumably Germany will appear to be a good place to move, once the "unfair" advantage of lower corporation tax in Ireland is removed. It'll pay for itself quite nicely for the Germans.

Ireland was ruined by the Euro and by having been deluded by greedy money lenders into aspirations beyond its capabilities. It's now in debt up to its eyeballs to the Germans, has less autonomy and is once again in the process of haemmoraging jobs and skills overseas.

If the economic disparity that came with British colonialism wasn't enough, they've now been hoodwinked into a far more insidious form of virtual feudalism at the hands of the central bankers and cash rich of continental Europe. Michael Collins would turn in his grave.

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Out of interest where does Germany think Ireland will get the money from to pay the interest on loans if big business up sticks and leaves Ireland because of higher taxes?

I dont think that Germany will care if they manage to land some of those big businesses. Surely that is the obvious plan, tax them out of Ireland and poach them for themselves?

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1. Horses

2. Empty houses

Travellers and tinkers they export for free :lol:

Loads of the wealthier ones over here have got wiped out if they bought into "Irish housing makes you a miwion-air" They always pay in cash.

I would have expected loads of them to have gone back to Ireland - loads of empty houses for the ones who want to settle and dole payments are far higher than in UK! No brainer!

"And on next - Blarney brides do it upside down"

Edited by erranta

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I wonder how Merkel would respond if the Irish told her and her precious German banks that are holding Irish sovereign bonds "verpiss dich"?

It's probably the only language they'd understand :lol:

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I wonder how Merkel would respond if the Irish told her and her precious German banks that are holding Irish sovereign bonds "verpiss dich"?

It's probably the only language they'd understand :lol:

I think that She would cut Ireland off, squash any funding, that Ireland wouldnt even get a credit rating and the place would sink like lead.

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I think that She would cut Ireland off, squash any funding, that Ireland wouldnt even get a credit rating and the place would sink like lead.

So they'd be like Iceland. Two years of misery followed by a rebounding economy unencumbered by decades of crippling debt coupled with zero control over their exchange and interest rates.

Has to be worth a shot.

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So they'd be like Iceland. Two years of misery followed by a rebounding economy unencumbered by decades of crippling debt coupled with zero control over their exchange and interest rates.

Has to be worth a shot.

If they were in any way capable then they would not have adopted the Euro and given up all control in the first place.

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If they were in any way capable then they would not have adopted the Euro and given up all control in the first place.

Let us just remember that every one of the 11 countries that adopted the Euro in 1999 has increased its GDP per capita by more than the UK since then. Ireland included.

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Let us just remember that every one of the 11 countries that adopted the Euro in 1999 has increased its GDP per capita by more than the UK since then. Ireland included.

All of them, really? Can you show evidence to back up that statement?

In my experience, PIIGS products and services are less competitive and ordinary people have a lot less purchasing power since the Euro was launched.

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Let us just remember that every one of the 11 countries that adopted the Euro in 1999 has increased its GDP per capita by more than the UK since then. Ireland included.

:lol:

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If they were in any way capable then they would not have adopted the Euro and given up all control in the first place.

Many were fooled by the promises of the bankers - not just the Irish. Those promises turned out to be nothing more than a scam to fleece entire countries of their remaining wealth. The Icelanders realised this in time and rightly told the bankers to f*ck off, and are even jailing some of them. The Irish should do the same,

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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