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Germany used Irish shell companies to lower deficit

02.12.13 @ 14:09

  1. By EUOBSERVER

The German finance ministry between 2005 and 2007 used Irish letter box companies and complex financial "securitisation" schemes to bring down its public deficit, which in the end failed, Spiegel reports. Germany is currently a fierce critic of Ireland's tax regime and wants to reign in investment banking.

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