[Question Liberal Authority]

Title needs fixing. I is for Italy, not Ireland.

Ireland has the lowest corporate tax rate of any industrialized nation, so they're not in financial trouble at all.

[C19fan]

Ireland is in trouble because it had to borrow a lot of money to bail out the banking system when it crashed and burned. The other Club Med states are just undisciplined economic losers; although to be fair Italy is like that because of the southern part.

[spetznaz]

PIIGS ....and Ireland is in worse shape than Italy. The country went crazy during the boom years, and now the piper needs to be paid. They do have low corporate taxes, but that alone was not sufficient to mitigate the immense fiscal stupidity. One good name for Ireland is the Dubai of Europe

[Alberta's Child]

I've seen this group referred to as "GIIPS," with the two I's referring to Italy and Ireland.

Ireland may have a very low corporate tax rate, but from what I understand the country has been hit hard by the migration of businesses and whole industries to Eastern Europe.