http://www.irishtimes.com/newspaper/frontpage/2009/0505/1224245943467.html - this was going to happen eventually, it was a question of when some of these loop holes were going to get closed. As I have said before the recent article in Silicon Republic on Why Ireland's knowledge industries will lead the nation to economic recovery is a bit retarded. Everything is not fine and we haven't hit rock bottom yet with the economy. I can almost see a lot of US companies either downsizing their Irish operations or leaving the country, the act of not increasing corporation tax on these foreign companies didn't really encourage them to stay.

I wonder if this is an idle threat?