Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Yes, there is an increasing divergence between Ireland's GDP and GNP:

And yes, lower tax corporate tax rates cause some multi-nationals to book profits in Ireland which were in reality earned elsewhere, inflating Ireland's GDP figures.

The banks covered by the Bank Guarantee were baled out to the tune of €60 Billion but most of this is expected to be recovered as Nama (National Assets Management Agency) is expected to make a profit on the bad loans it acquired at c. 40% face value. So yes there was some loss sharing.

Despite the above, Ireland's economic recovery is real.  Unemployment has reduced from 15.1% to 8.4% in three years and the rate of employment increase (in all sectors of the economy) is currently accelerating despite international headwinds.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Thu May 26th, 2016 at 03:58:43 PM EST
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