Switzerland eyes benefits from Ireland’s troubles

| 23/11/2010

(Swiss info): With Ireland coming under increasing pressure to raise corporate taxes, Swiss cantons are eyeing the opportunity of seizing a greater share of company relocations. The debt-stricken republic has rejected calls from France and Germany to increase company income tax in return for a European Union bail-out, but some believe the former Celtic Tiger may have lost too many teeth to resist. Ireland’s current economic woes spring from the dramatic collapse of its housing market since 2008, landing its banks with bad debt. A government bank bail-out left holes in national accounts and the country in need of an emergency cash injection.

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