The National Treasury Management Agency (NTMA), the state agency charged with managing Ireland’s national debt, did something rather novel last year: it published a forensic report that questioned Ireland’s overreliance on a small number of giant US multinationals. The report concentrated specifically on the so-called Faangs (Facebook, Apple, Amazon, Netflix and Google), setting out the impact of everything from their physical imprint here to their colossal contribution to the Exchequer. The report was interesting as it focused on a number of company-specific issues that could potentially have a significant impact on the Irish economy. For example, privacy rules could impact…

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