Microsoft slashes Irish cash balances to cut euro exposure

The IT giant has been moving cash out of Ireland to 'safe economies' in a bid to reduce its eurozone exposure, write Jon Ihle and Ian Kehoe.

18th August, 2012
Microsoft's European headquarters in Dublin: reduced its exposure to eurozone break-ups or sovereign defaults Photo: Maura Hickey

Microsoft has been sweeping its cash out of Irish bank accounts on a daily basis in an effort to cut its exposure to so-called "high-risk European countries".

Microsoft, which has its largest regional operating centre in Ireland, has now reduced its cash balances in Ireland by 99 per cent since the third quarter of last year. The money has been moved daily to countries that are deemed safer.

The global giant began the process last year,...

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