Leprechaun economics strikes again! š
When big American pharma companies changed their Irish tax structures & supply chains in response to Trump's tariffs, this caused the entire EU GDP to drop on paper. Meanwhile, the real Irish economy (GNI*) is actually growing modestly this year.
Zorka Milin
Irish GDP is distorted by weird cross border flows from the multinationals that have their HQs there. It had a 12.1% drop in Q1 which is so big this pushed the whole Eurozone into a 0.2% contraction for the quarter! (Ex Ireland it would be around 0.2% positive growth!) www.ft.com/content/be3a...
Economists say Irelandās GDP āimpossibleā to predict because of cross-border flows from multinationals
