Irish Diaspora speaks out on IMF bailout

Honoree Denis P. Kelleher, founder and chairman of Wall Street Access

Claffey, like many others, believes that Ireland’s low corporation tax is “key to maintaining a safe future.”

Claffey doesn’t place much hope in the Irish politicians.

“History has shown that governments have a short-term outlook on these things, and that the long-term decisions and implications weren’t thought through,” he said.

Earl Hurd of 1-800-FLOWERS, believes that the EU’s persistence on Ireland to accept a bailout package was fueled by jealousy.

“Ireland was bullied into taking that bailout -- the rest of the EU was jealous of the boom in Ireland.  They used this opportunity to level the playing field,” he says.

Hurl believes that the Irish banks should have suffered the consequences of their own actions.

“Sometimes in life, people fail. The Irish government should have let the banks fail, and pay for the consequences, just like with people,” he said.

Mike Hemingway, Business 100 honoree, believes the Irish government and the Irish banks “are in bed together.”

Hemmingway believes that the EU bailout was needed “to bring order to chaos.”

What should the Irish government do now?

“Resign, en masse,” replied Hemmingway.

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