Talk earlier in the thread about large sums of money not really existing is explained in this along with some other worthwhile info.
"From 2016 onwards, under the stewardship of the centre-right Fine Gael government led by Leo Varadkar, the economy continued to grow. But it was also becoming obvious that a large part of Irish growth was a result of being a tax haven. Irish GDP is €324 billion. But modified gross national income is €197 billion. This represents the real size of national income, and it is €124 billion smaller than GDP.
Equally, the stock of foreign direct investment in Ireland is around €850 billion but IMF research shows that nearly three-quarters of this is phantom. It is large multinationals shifting capital assets around their various subsidiaries to reduce their tax obligations.
All of this has made the economy look better than it actually is."
"From 2016 onwards, under the stewardship of the centre-right Fine Gael government led by Leo Varadkar, the economy continued to grow. But it was also becoming obvious that a large part of Irish growth was a result of being a tax haven. Irish GDP is €324 billion. But modified gross national income is €197 billion. This represents the real size of national income, and it is €124 billion smaller than GDP.
Equally, the stock of foreign direct investment in Ireland is around €850 billion but IMF research shows that nearly three-quarters of this is phantom. It is large multinationals shifting capital assets around their various subsidiaries to reduce their tax obligations.
All of this has made the economy look better than it actually is."
Sinn Féin's rise in Irish politics is down to three big economic reasons
A short history of Ireland’s political economy explains Sinn Fein’s surge in popularity.
theconversation.com