Bailout ‘should cost Ireland double corporation tax’

GERMAN MEPs stepped up the pressure on Ireland over its corporation tax rate insisting that it would have to double if the country needed a bailout.

Members from both the largest group in the parliament, the European People’s Party, and from the smaller Green group pushed the issue with the president of the European Central Bank, Jean-Claude Trichet.

But while he ignored their statements, concentrating on Ireland’s attempts to regain competitiveness and deal with the banking crisis, the MEPs issued a declaration afterwards.