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Ireland’s Booming Economy in the Midst of Austerity and Cutbacks
national |
worker & community struggles and protests |
opinion/analysis
Saturday December 01, 2012 09:54 by Caoimhghin Ó Croidheáin caoimhghin at yahoo dot com
Exports are booming while business and political elites are determined to make ordinary Irish people pay for the financial crisis Despite the fact that the Irish people are currently enduring endless austerity and cutbacks, exports are booming.[1] The Irish Exporters Association (IEA) reports a 10 percent rise in the export of goods and services in Ireland between July and September compared to the same period a year ago. Exports are set to hit a record €183.7bn this year and with the corporate tax rate at 12.5 per cent business elites are doing nicely in Ireland.[2] Meanwhile, the Irish government is handing out a large percentage of the budget to unsecured bondholders to the tune of €18 billion this year with a couple of billion more to go before year’s end. According to Diarmuid O'Flynn writing in his blog bondwatchireland: |