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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.

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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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