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Business

Apple ruling roils Irish politics

Opening sequence

Opening sequence

Business

Apple ruling roils Irish politics

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17:18
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COMING UP:Apple ruling roils Irish politics

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Transcript

00:00:00
>> The EU says Apple owes Ireland 13 billion euros, but Duplin doesn't want the money. Finance Minister Michael Noonan calling the ruling bizarre, now the insuring ride could even bring down the government. Cabinet ministers summoned to an emergency meeting Wednesday, to approve a decision to appeal the EU verdict.
00:00:20
Reuters Chief Correspondent in Ireland Padraic Halpin says it's not clear if the minority party and the ruling coalition will go along.>> If it doesn't, and if it pulled out of government, then Fine Gael, the largest party would no longer have sufficient support in Parliament to pass legislation, and so it would likely lead to the government's collapse.
00:00:44
>> Ireland could certainly use the money, 13 billion euros would shave 6% off the country's national debt. Or it could fund the entire health service for a year, but multinational firms like Apple are a big part of Ireland's economy, and many people are reluctant to scare them away.
00:01:02
>> I mean some people agree with the government and say that it needs to fight this because foreign multinationals. And they have created almost one in every ten jobs in Ireland, and a number of jobs indirectly as well. And I know they simply find it baffling and bizarre to use the Minister's words that Ireland wouldn't accept 13 billion Euros in tax.
00:01:27
>> With Ireland and Apple both set to appeal, the legal battles could go on for years. Some lawyers argue that Brussels will struggle to provide a legal basis for its ruling. Dublin may yet succeed in turning down its 13 billion euro windfall.