posted on Feb, 28 2011 @ 06:18 PM
reply to post by duality90
If they lost the confidence of international lenders, surely the Irish economy would literally collapse due to the inability to receive financial
Not really, because it wouldn't effect businesses. It would effect businesses and nations from investing in Ireland, as a whole, as in it's
national debt.. but as long as their corporate taxes remain low and there is a level of stability in said tax code.. why would a business leave?
Ireland's economy exploded due to European investments having easy access with the invent of the EU .. Irish property was dirt cheap, cheapest in the
West, with the lowest Corporate income tax. Companies came from all over to build new shopping malls, houses, some more houses, and yet more houses..
construction alone represented 20% of it's entire economy. All the while they saw at the same time a massive influx of poor Eastern Europeans and
Africans/Arabs .. most of the jobs created were low end jobs.. Ireland expanded it's infrastructure and social services on the pretense of continued
growth at an astronomical level, while it's tax base never grew.. thus when Construction went bust and people started loosing money in their property
... the economy collapses.
For the Irish it's not just another economic struggle, it's a defining point in their history.. having already gifted their sovereignty to Brussels,
they have to decide if they are going to be another suburb of Europe's powers used as a parking lot and playground for their wealthy, or remain
Irish. Personally, like with nearly all Western governments, the generation in place to make change has grown up jaded and disillusioned.. we simply