MERKEL LAYS DOWN THE GAUNTLET: Greece Must Sell Assets, And Ireland Must Raise Taxes

angela merkel

Photo: AP

German Chancellor Angela Merkel has called on both Greece to sell state owned assets and Ireland to raise its corporate tax rate in exchange for cutting the interest rate on their bailout bonds, according to Bloomberg.The comments were made during a behind closed door meeting of European leaders.

This is the latest move by Merkel to take the lead in sorting out a compromise for the eurozone moving forward.

Any increase in Ireland’s corporate tax rate is likely to be met with sincere opposition, as it is one of the main growth drivers for its troubled economy.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at