Sinn Fein-influenced Irish government could hurt Apple

If Ireland’s populist Sinn Fein party manages to form an Irish government, Apple, along with banks and real-estate companies, may be among those hurt the most.

Flag of IrelandDara Doyle for Bloomberg:

The party, which won the popular vote in Ireland’s general election last week, is opening discussions with others to try and form a coalition. There’s no guarantee it will find enough allies, with the established parties of Fine Gael and Fianna Fail wary of the Sinn Fein’s past links to the IRA terror group and its economic polices. Fianna Fail leader will seek to create a possible government with all parties except Sinn Fein, Irish media said Friday. Nonetheless, the election results spooked investors, sending bank and real-estate shares plunging.

One of the country’s biggest employers, Apple was hit with a 13 billion-euro ($14.13 billion) tax bill in 2016 from the European Commission, which said it got a sweetheart deal from the Irish state. Until now, the Irish government has vehemently denied any wrong-doing and is appealing the decision.

Sinn Fein criticized the government for fighting the case, saying the money should be accepted as a windfall to build homes and hospitals… However, it’s not clear that Ireland dropping its fight would end the matter. Apple is also appealing the decision, and that may well continue no matter what the Irish decide. Sinn Fein and any potential coalition partners would also need to carefully monitor whether such a move would jeopardize the 6,000 jobs the company provides in Ireland.

MacDailyNews Take: Hopefully, common sense will prevail. Apple has axed projects before in Ireland due to political shenanigans, so Sinn Fein would be wise to tread lightly, if at all.

10 Comments

    1. lol Trump has created the largest deficit in US history and his govt is leaking huge amounts of $$$ daily. Pull yur head out of the sand for a moment you might see some reality

  1. Sinn Fein is Irish, all the Tea in China and all the MONEY in the world isn’t going to make them stop from a United Ireland….(It has been 500 years the goal is still the same, send Limey home to the other island).

    1. Ireland is now more prosperous than England. And with the Tories throwing Northern Ireland under the bus with Brexit, a united, independent Ireland is now a realistic possibility for the first time in recorded history.

    2. Well if we want to bring up controversial history there is so much pot and kettle to discuss on that matter but I shall resist.

      I suspect Sinn Fein will not be likely to relax their instinctive fundamental dislike of capitalist Imperialism as they see it under Apple!s pressure which actually might be good news for Limey on this island. But either way I suspect political conflict will hot up over there for some years to come with economic consequences on investment distinctly in play. Just hope they don’t look to us to bail them out again like we did a decade ago allowing them to establish the fastest growing economy in Europe in the process. But it seems as perceived there at least with little benefit to the average voter, seems politics is in flux all over the place at the moment with unpredictable consequences but Ireland might learn the hard way how insecurity can upset their unappreciated progress.

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