Re: Irish logic
Not really, the risk to Ireland is that this could spook the horses and cause a massive economic crisis if MNCs up and leave.
Ireland's general plan is to not rock the boat too much and maybe have some kind of smooth transition period to just flat, low corporate tax.
The one thing that worries me though is that this may end up being a witch hunt by some of the larger countries against the smaller ones. One would wonder what level of state subsidies various national champions in France, or Germany have benefitted from over the years. Or how much state aided marketing through things like overseas investment loans etc were used to prop up infrastructural companies and so on were used by various states.
It's relatively easy to go after US multinationals in a small country that's somewhat beholden to the EU due to the recent fiscal crisis that it's just about over. But, lets see how easy it would be to probe some of the large German or French companies.
The Irish have always been extremely conservative about ceding tax competencies to Brussels and it was one of the sticking points in every EU referendum there. If there's any major issue that impacts the Irish economy negatively, I could see Ireland becoming a lot more Eurosceptic very quickly.
Simple reality in Cork is that this is ~6000 direct, mostly fairly well-paid jobs in a city of about 200,000 people.
Morals aside, if Irish politicians don't work to protect those, they'll be out on their backsides and they know it. It's a proportional representation system with a very fine balance of power too, so there is no such thing as a 'safe seat'.