Stephen Kinsella: Forget Apple - with investment funds, you ain’t seen nothing yet

Stephen Kinsella: Forget Apple - with investment funds, you ain’t seen nothing yet
Gabriel Fagan chief economist of the Irish Central Bank Pic: RollingNews.ie

The Central Bank is probing €300bn in assets owned by foreign investment funds – some of which, through a loophole, pay no tax at all

Gabriel Fagan looks like the quintessential central bank economist. Grey-haired, serious, sober and well-informed. He’s the kind of guy you trust. You’d leave your money with him.

Fagan, the chief economist of the Irish Central Bank, appeared before the Oireachtas committee on budget oversight last week, and left parliamentarians’ jaws on tables when he mentioned a figure of €300 billion the Central Bank wasn’t quite sure about.

The bank is examining more than...

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