Paul Sweeney
@sweeneyman.bsky.social
Author books on Irish economy inclu “The Celtic Tiger”; board member of TASC the Irish progressive think tank; Former Chief Economist, Irish Congress of Trade Unions. Awarded honorary D Econ Sc. by UCD for “contribution to Irish economic model.”
Hey! Bank regulators need to wake up on another front. I see that the data centres and huge borrowing of the tech companies are being backed by the banks. Will we have another bank crash when Big Tech crashes? Will European taxpayers pick up the losses again? 
Paul Sweeney@sweeneyman.bsky.social · 15h agoAnd the bank of Lithuania! In UK by Bank of England
And the bank of Lithuania! In UK by Bank of England
Paul Sweeney@sweeneyman.bsky.social · 15h agoWe need regulation- where is the #ECB?
We need regulation- where is the #ECB?
Paul Sweeney@sweeneyman.bsky.social · 15h ago#Revolut boss to give himself a Musk-like remuneration boost. Storonsky already gets huge incentives but now the co going to give him an enormous payout if the company surpasses a value of $500 billion. The largest payout in Europe! Corporate greed as inequality grows. It is a bank.
All the Irish banks collapsed because of perverse executive incentive schemes which boosted the salaries of the bosses by taking unnecessary risks.
Paul Sweeney@sweeneyman.bsky.social · 15h ago#Revolut boss to give himself a Musk-like remuneration boost. Storonsky already gets huge incentives but now the co going to give him an enormous payout if the company surpasses a value of $500 billion. The largest payout in Europe! Corporate greed as inequality grows. It is a bank.
#Revolut boss to give himself a Musk-like remuneration boost. Storonsky already gets huge incentives but now the co going to give him an enormous payout if the company surpasses a value of $500 billion. The largest payout in Europe! Corporate greed as inequality grows. It is a bank.
Wrong -We trade unions did -repeatedly -during the boom! Today elite Europeans are demanding less regulation eg CEO of Siemens in yesterday s FT! Will they ever learn?
The Irish Times@irishtimes.com · yesterdayThe Irish Times view on Michael Fingleton: nobody shouted stop
Irish people overwhelmingly support the Palestinian people and reject #Israeli genocide. ( I didn’t use that word until it was clearly evident that it is the correct word to use)
Irish Independent@independent.ie · yesterdayLocked out: FAI confirm no tickets will be sold to Ireland fans for ‘away’ Nations league game with Israel in Hungary www.independent.ie/sport/soccer...
Microsoft: $101 BILLION in profits. $12.5 BILLION in tax breaks. $176 BILLION in stock buybacks. 4,800 workers fired this week. 9,000 workers fired last year. Please don't tell me trickle-down economics works. It never did. Nothing trickles down.
Ireland would be hit hard if a fairer tax system is implemented:- The Case for a Pay-Where-You-Play Tax System by Jayati Ghosh @projectsyndicate.bsky.social prosyn.org/petEpPJ
The Case for a Pay-Where-You-Play Tax System
Jayati Ghosh urges global policymakers to back a groundbreaking UN tax treaty that would end profit shifting.
prosyn.org
was #NAMA the Irish bad Bank a success? Yes, it did repay a lot of money to Irish taxpayers. However it became government policy to support NAMA over the years by encouraging high property prices so that the banks would be solvent. This has cost us by contributing to a housing crisis.
Regrettably, this privatisation of cooperatively/mutually/socially owned bodies has happened a lot in Europe. eg building societies cooperatives insurance companies like Standard Life etc have all been privatised. To the immediate gain of the owners at that time. Now they’re owned by shareholders.
Paul Sweeney@sweeneyman.bsky.social · 4d agoOn Infantino’s plan to privatise the World Cup plan, Europes UEFA rejected it strongly “ europe’s position is clear. We will never lend this model our legitimacy. No one has the moral authority to sell what they merely hold in trust for the next generation.“ An excellent response to privatisation.
On Infantino’s plan to privatise the World Cup plan, Europes UEFA rejected it strongly “ europe’s position is clear. We will never lend this model our legitimacy. No one has the moral authority to sell what they merely hold in trust for the next generation.“ An excellent response to privatisation.
Hey Dude Rino! They were funded by EI!
LDuderino@ldcork.bsky.social · 5d agoThis Collision story is pretty depressing but the notion that Stripe would not have started (at all) without funding from Enterprise Ireland is the most delusional thing you’ll see today. These kids established themselves as extraordinary talent early - there would have been a queue to invest.
Stripe -Collison’s billion $ co never would have started without super support from EI an Irish state body which helps start ups! Hey my TAXES funded that & every other infant start up. No taxes fewer successful start ups!
Paul Sweeney@sweeneyman.bsky.social · last wk.#Irishtimes slow on the news! I posted this 12 long days ago here! Irish entrepreneur Patrick Collison donated $7m to group opposing California wealth tax www.irishtimes.com/politics/202...
It’s so great to see privatisation getting smashed by public anger against the greed of the elite -“The week that shook football “
The problem is that the bad guys are running the world because so many are too passive!
Pat Brady@workplacesols.bsky.social · 7d ago‘A civilisation is a complex system of complex systems. Eventually all complex systems, without exception throughout history, have collapsed under the weight of their complexity.’ www.theguardian.com/wellness/202...
‘Over the past three years, Tesla reported an effective federal income tax rate of 0.4%. This is a tiny fraction of the 21% tax rate profitable corporations are supposed to pay under the law.’ Institute on Taxation and Economic Policy, www.irishtimes.com/business/wor...
Let them eat crumbs: Growing wage inequality is bad for both workers and businesses
Companies in Ireland should disclose the ratio of CEO pay to median employee pay as US and UK groups do
irishtimes.com
‘Black Summer’: how Australia rethought its wildfire strategy says FT (no link) but lessons to be learned from the Aussies
It’s time big Tech was broken up and regulated. I cannot access my own Library on my iPhone because it’s constantly blocked by #Apple insisting I take a three month trial with their music at €12pm or €144pa! Monopoly abuse!
So sad! A talent! Oscar-winning musician and actor Glen Hansard dies in Dublin motorbike crash www.irishtimes.com/culture/musi...
Oscar-winning musician and actor Glen Hansard dies in Dublin motorbike crash
Ballymun singer found fame after starring in The Commitments and with his band The Frames
irishtimes.com
Privatisation does not work unless you’re the buyer. Irish Life a state owned enterprise for many days decades has paid billions in dividends to its Canadian owner since privatisation.
#Irishtimes slow on the news! I posted this 12 long days ago here! Irish entrepreneur Patrick Collison donated $7m to group opposing California wealth tax www.irishtimes.com/politics/202...
Irish entrepreneur Patrick Collison donated $7m to group opposing California wealth tax
Building a Better California opposes proposal that would require California’s billionaire residents to pay a one-off tax on their assets
irishtimes.com
#PWC are SpaceX accounting firm. Will it follow the late unlamented Enron’s accountants into a bad memory?
Amber@risettemd.bsky.social · last wk.SpaceX and Tesla are basically copying Enron at this point. Economists realize that, right?
SpaceX and Tesla are basically copying Enron at this point. Economists realize that, right?
Fifa’s Gianni Infantino lashes out at World Cup critics ‘consumed by hate’ what a disgraceful narcissist!
Vote to join on 29 August with centre Right opposing joining #EU. www.politico.eu/article/icel...
Iceland opposition chief to Europe: Don’t meddle in our referendum
Guðrún Hafsteinsdóttir casts the Aug. 29 vote on reopening accession talks as a question of Iceland’s hard-won sovereignty.
politico.eu
