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Ireland tried to pump money into its economy my introducing a lower corporate tax rate of 12.5% so many foreign companies (TNC'S) invested in Ireland basing their productions there

eg. IBM, Google (headquarters in Dublin), apple, dell and a range of pharmaceutical companies

these companies created a boom known as the Celtic tiger giving Ireland unheard of growth of 10% on average in the boom.

however when the GFC hit these companies didn't have the money to continue investing in Ireland so all the money dried up and projects where half finished and suddenly bankable money in Ireland went down by around 70% so they lost a lot currently owning a -6.76 billion dollar deficit.

so now they just got bailed out by the EU and are in dire straights are are trying to get foreign investment back and using an expenditure of 3% of the GDP to re-pump the economy.

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Q: What is the Economic strategy of republic of Ireland?
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