Ireland’s Finance Minister Michael Noonan talks about the rise of European populism, the European Union’s tax claim against Apple, Ireland’s tax structure, and potential tax retaliation from the United States. He speaks on “Bloomberg Surveillance.”

We think that the decision [regarding Apple’s taxes] made by the competition commission was the wrong decision. We think it’s based on very fragile, illegal principles and we’re appealing it. And we have very strong grounds for appeal and we have very strong legal advice that we’ll win the appeal. But, beyond that, there’s a process. They kind of constituted themselves as a quasi-judicial, they made a decision, we’re appealing it, and there are two phases to the appeal… and it’ll probably take four years, maybe more.

Direct link to video here.

MacDailyNews Take: Bloated bureaucratic efficiency at its finest.

“It’ll probably take four years, maybe more.” In the meantime: Anyone who decides to set up a business in a European Union member country today is insane.MacDailyNews, August 30, 2016

The EU’s antitrust commissioner, Margrethe Vestager, is a fool.

Apple’s EU tax nemesis Margrethe Vestager takes aim at other U.S. companies’ offshore profits – September 19, 2016
The ‘Brexit-Apple’ connection: What in the world was Margrethe Vestager thinking? – September 12, 2016
EU ministers line up to take tax bites out of Apple – September 12, 2016
Former EU competition commissioner: Vestager claim that Apple owes back taxes an incorrect use of EU law – September 2, 2016
Irish government to fight EU on Apple tax – September 2, 2016
Treasury accuses EU of trying to steal U.S. tax revenues with Apple decision – September 1, 2016
Irish residents opposed to EU’s tax demand of Apple – September 1, 2016
Apple Inc. pushes back against EU tax grab – September 1, 2016
Apple may repatriate billions of dollars next year after new U.S. President takes office – September 1, 2016
U.S. tax code allows for dramatic retaliation against EU overreach in Apple case – September 1, 2016
Apple CEO Tim Cook on EU tax demand: ‘No one did anything wrong here and Ireland is being picked on… It is total political crap’ – September 1, 2016
U.S. Treasury: The European Commission’s retroactive tax demands on Apple are unfair – August 30, 2016
EU demands Apple pay massive $14.5 billion in taxes plus interest – August 30, 2016
U.S. government warns EU: Do not hit Apple with a massive back tax bill – or else – August 25, 2016