Can protectionism now be justified? · 14 October 08 by Ray Crowley
The Irish Government recently passed emergency legislation that guarantees the Assets and Liabilities of 6 Irish Banks.
In Essence the Irish State has taken on a €400 Billion Contingent Liability
Tax-payer support of the core financial services sector raises an interesting question that has not yet been asked in the Irish media;
If the Irish Taxpayer; i.e. those generating wealth in the private sector are effectively guaranteeing the commercial future of financial services in this small open economy, then wouldn’t it be appropriate for the elected representatives of the tax paying class to demand a moratorium on the Off-Shoring of IT services and Financial back-office functions from Ireland to non-EU locations such as India and China?
