Today, November 24th , the German quality broadsheet Die Zeit had this (http://www.zeit.de/wirtschaft/2010-11/irland-wachstumsmodell-krise) as its leader on the front page.
It says in effect that it is not just a banking and property crisis in Ireland but far worse than that. It says the famous Celtic Tiger is dead or rather it never existed in the first place. Ireland's economic model for growth is based almost entirely on our corporate taxation strategy. This was Ireland's lazy path to growth. At the 'stroke' of CJ Haughey's pen, massive growth was coming in the shape of tax avoiding multinationals. It says Ireland urgently needs a new model because this one is a bust flush. I for one, completely agree. We need to start our own industries and get on with it now. Its a sad day when Ireland on the front page of probably Europe's leading newspaper reduces us to a bunch of corrupt opportunistic clowns.
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