Ozzy only needed to learn one thing, cut Corpo tax and the big fish will launder their profits in your jurisdiction.
Although i've argued that a readjustment of our corpo tax rate is needed to help pay off the bank debts, it'd be in the range of a 1-2% increase lest we scare off the Googles, Microsofts & Pfizers of this world. Sarko and the lads would almost certainly want to see it doubled. That's not going to happen as it'll collapse pretty much the last sector of the Irish economy which is making serious cash for the DoF.
The French & Germans have been moaning about Irelands corpo tax for years, if fat bitch Merkel insists on including the proposal as part of a bail out of Ireland then it'll end in tears. It would be further proof, if proof were needed, that the whole EU/EMU project is run in the interests of the 2 big players. It would be at that point that i'd imagine Ireland pulling out of the Euro & EU would become a distinct possibility.