The disgracefully nominal amounts of corporation tax being paid by some of the largest multinationals (MNCs) based in Ireland have come to the forefront of the news in recent months. The right-wing rag The Irish Independent even has had to adopt headlines such as “Google chief: 'I'm proud of tax we pay – it's called capitalism” such has been the incredibleness of the figures.
The tragic death by suicide of former Priory Hall resident Fiachra Daly has put the exploding mortgage crisis centre stage. The brave decision by his partner Stephanie Meehan go public at this difficult time for her family has put the human face to the tragedy of this financial meltdown.
An Bord Snip Nua, headed by the neo-liberal economist Colm McCarthy, has given the government a vast menu of potential cuts from which to choose for this December’s budget. The target is to cut €5.3 billion a year from public expenditure. STEPHEN BOYD analyses the situation.
Warnings of a currency war dominated the summit of the International Monetary Fund and the World Bank in Washington this weekend. The cooperation between global politicians, like when the economy plummeted in 2008, is dissolving. Many governments are devaluing their currencies in order to increase exports, thereby increasing contradictions and risking new economic downturns. The meeting, however, ended in a fiasco, with a statement void of content the only result. Below are two articles, on the world economy and on the currency wars.