Let Battle commence.
Taoiseach Enda Kenny entered the bear pit of EU politics in recent days. His mission to gain a better deal for Ireland.
The opinion from the balcony is that Ireland is in shark infested waters. Until recently, Europe has regarded Ireland as a Doughnut economy, nothing in the middle. The IMF/ECB team came to Ireland, not by invitation, but on instructions from German and French bondholders and banking institutions.
The Euro structure was and continues to be an incomplete structure. Ireland became the scapegoat for both its own and Euro shortcomings. The supposed deal was ultimately to protect EU bondholders, not the Irish economy.
The IMF/ECB deal was dead in the water, before it left the table. The interest rate, robbery, is to prompt a annual growth which actually kills the potential for growth. Tricet has since indicated a rate increase which further hinders growth.
The prospects for economic growth, or indeed, survival are a conducive cost base. If
Ireland cannot achieve these levels; the question of default becomes academic
Indications are a trade off to a standardized corporate tax rate. This is not helpful but another kick in the backside. Ireland has a 12.5% Corporate Tax rate. What is the REAL Corporate tax rate in France and Germany? What kind of cross subsidies by our EU partners in major projects like Concorde and Airbus? The basis of the demand for common tax rate is to reduce its potential further, when ever means at our disposal needs to be deployed in a very positive manner.
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