THE IFSC BY NATIONALITY, 1991
Mar 30th, 2012 by Conor McCabe
I started looking again at the IFSC from its origins to today, and something I hadn’t picked up on before is that while I knew that the IFSC was used by Irish companies from the start as a way of avoiding tax - in effect, Ireland became its own off-shore tax haven for international financial transactions - it was also used by German finance for the same reason and quickly became a hub in the German shadow banking system.
The IFSC is not only the story of Irish finance, it’s also a part of the story of German finance as well
