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Dublin - Event Notice Thursday January 01 1970 Ireland and the shadow Banking System - A Talk by Dr. Conor McCabe dublin |
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event notice
 Friday September 07, 2012 00:33 by Conor McCabe
 Exchange Dublin Co-operative, Exchange Street Upper, Temple Bar, D.2 This talk till try to throw a light on the dynamics of the IFSC, in particular the shadow banking system of which the IFSC is a hub, and will discuss the nature of Ireland’s ‘middleman’ capitalism whi There are almost 6,000 companies operating out of Ireland’s financial services centre, and they manage over €2 trillion in assets every year. Most of these companies exist in name only, and are used primarily as tax-avoidance vehicles by international finance. With 25,000 jobs (of which 6,000 are with Irish companies), and a corporation tax amount of less than half a billion euro a year, the IFSC consists of just over one per cent of the entire workforce and less than two per cent of total government income. It is at best a regional economy, an enclave on the Liffey - yet it is continually promoted as the saviour of the Irish economy and ‘the only game in town.’ Its protection by the State, however, has less to do with the national economy, and more to do with the nature of money, finance and power in Ireland today. |
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