Ireland’s low tax rate to go?

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As the Guardian reports:

Finance ministers of the 16 countries using the euro single currency meet on Tuesday in Brussels amid fevered speculation that Ireland will be forced to extend a begging bowl seeking billions in bailout funds.

But as they note:

Meanwhile the Irish government emphasised three times over the weekend that it was not asking for help, the latest denial coming from Batt O'Keefe, the minister for enterprise, trade and innovation.

Could that be because:

In Dublin last week, Olli Rehn, the European commissioner for economic and monetary affairs, made plain that the low corporation tax rate would be on the agenda if EU officials were granted discreet budgetary powers in Ireland, as happened with Greece.

"It's difficult to imagine Ireland remaining a low-taxation country," Rehn said.

I think I spot an understatement in there. I think the word “difficult” is the understatement. Substitute “impossible” get a real idea of prevailing sentiment.