Capital Moving From Bermuda To Ireland

September 26, 2011

According to a news story in the Irish Times on 24th September, in 2010, some €8.6 billion [about $11.6 billion] of capital or equity was transferred from Bermuda into Ireland.

The figures came from a report prepared by the Republic of Ireland’s Central Statistics Office. This report said that 43% of net or final inward investment of some €19.9 billion [$26.7 billion] came from Bermuda.

The report said, “A crackdown on tax havens by the US government has made Bermuda less attractive for the global reinsurance and investment companies.”

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Comments (5)

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  1. Dreamer says:

    oh no this transfer happened in 2010 – and in 2011 they are looking for an IMF lifeboat????????

    • Sovereign says:

      Apples and Oranges. Do some research!!!

      • Still Dreaming I think says:

        did the research, it’s all the PLP’s fault. did I get it right.

        also note since the into of IB into Ireland, crime is up poverty amongst the local population is up. cost of living is up, the financial gap between the haves and the have not are wider, does any of this sound familiar.

        but due the their good governance their issues where caused solely by the world financial crisis, not the end of the housing bubble, not the Irish debt both public and private, that had nothing to do with their down fall, just like it had nothing to do with Bermuda’s downturn. like i said it’s all the present government’s fault why Bermuda is in the mess it’s in.

        we will talk again when the same companies start retuning history has a way of repeating it’s self.

        Thanks for your advice.

  2. Hmmmmm says:

    Funny, this report doesn’t say that Bermuda had anything to do with this…..wonder why ? Maybe the term limits, unfriendliness, payroll tax BS arguments are for local consumption only. When it comes down to it, these guys will go wherevver they can make the most money.

    • Black Soil says:

      The PLP have no idea how fragile Bermuda is. They are idiots. The rot is at the top and Bermuda is in trouble. If the PLP win the next general election then this exodus of capital will continue. The PLP do not know what makes Bermuda tick. The PLP need to be laid-off, made redundant, placed into rehab.

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