Ireland requests bailout package of the European Union
M. Lenihan, "the key issue is that we do not have a collapse of the banking sector," said in an interview.
He acknowledged that the Irish banks have become too dependent on ECB finance and had to be "weaned" a means of financing.
M. Lenihan describes the funding being requested as "Emergency Fund" and does not say that it would necessarily be collected.
Details on the rescue - conditions - plan will be subject to discussions.Toutefois, the Irish Government has received a stark warning of some largest American companies in Ireland on the risk of a mass exodus if the country's low corporate tax rate is raised.
Warning - Executive at Microsoft, Hewlett-Packard (HP), Bank of America, Merrill Lynch and Intel - talks about the "detrimental impact" on "Ireland the ability to gain and retain investment" should the country of the corporate tax rate rose from 12 5pc.
Members of the Irish Government, the European Union and the international monetary fund were in talks 24 hours a day on a set of financial aid to strengthen the banking system at Bay.
Although Brian Lenihan, Minister of finance Irish said 12 5pc Ireland society – the lowest in the euro - area rate will not be raised, a number of factions within the European Union is known for having pushed so that it can be increased in exchange for the bail-out.
French President Nicolas Sarkozy said yesterday that all by increasing taxes would not be a condition of bail, he expects Ireland to increase its rate of corporation tax.
"It is clear that in a situation like this, there are two levers to use: spending and the recettes.Je cannot imagine that our Irish friends in full sovereignty [do not use] this because they have a greater room for manoeuvre than others, their taxes being lower than others,"said.""
Lionel Alexander, President of the Chamber of commerce American Ireland and a senior HP wrote U.S. warning.
Foreign investment amounts to €110bn - or only 70pc - export companies employ more than 100,000 workers.
While corporations do not threaten directly leave at this stage, the statement - signed by each of the four companies mentioned - Irish leaders emphasize that, although the tax rate of the Ireland is low at the European level, not when compared to places like the India Singapore, China.
The letter explains: "the IMF, the European Central Bank and the European Commission must realize that any increase in our corporate tax rate would be ultimately make us more economically dependent, not less so on our partners in the European Union."
Separately, John Herlihy, head of the European headquarters of 2,000 - strong Google in Dublin, said The Belfast Telegraph that "everything which overflows on the competitiveness of the Ireland is will be a great thing for Google."
Mohamed A. El-Erian, CEO of PIMCO, large investor link in the world, written in Sunday Telegraph today reports that all proposed bailout may be enough to consolidate Ireland written it finances: "the Ireland and official partners must convert a liquidity in the short term in a more sustainable long-term solution approach dealing with credit, growth and economic restructuring.
Collective warnings came as the Irish Government held a day of the meeting of the cabinet today to try to finalize the two separate restructuring plans: a plan for four years for the economy, containing some €15bn sections and the other on the banking sector itself .the Government should publish both on Tuesday, after which, it is likely formally request aid from the EU and the IMF in support of its objectives of austerity.
It appears that the sale of certain assets of the State is included in the mesures.Il can be 25pc Government stake in Aer Lingus, the national carrier, as well as its separate gas in the country and electricity boards and national lottery licence.