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DUBLIN air max 97 og bianche , Sept. 5 (Xinhua) -- Credit rating agency Fitch said on Monday that the European Commission's Apple tax ruling has "mixed implications" for the country's sovereign credit profile.
In a statement, Fitch said the ruling could result in a substantial one-off improvement to Ireland's fiscal position, but may also add to medium-term economic uncertainty and increase political risks.
On Aug. 30, the European Commission said Apple should pay up to 13 billion euros (about 14.5 billion U.S. dollars) in taxes, plus interest air max 97 rosse , to the Irish government, because Apple's tax arrangements enabled it to pay less than other companies and were illegal under EU state aid rules.
Both the Irish government and Apple have said they will appeal the decision, a process that could take several years. The European Commission has said the amount could fall, depending on developments in other jurisdictions.
"If upheld, the European Commission's ruling would represent a substantial one-off fiscal windfall for Ireland air max 97 baffo blu ," Fitch said.
"Excluding interest, the payment to the Irish government could amount to around 5.1 percent of 2015 GDP. If used to pay down debt andor reduce borrowing rather than spent, this would accelerate the improvement in public debt dynamics that has been driven by fiscal consolidation and robust nominal growth," it said.
The credit rating agency predicted Ireland's gross general government debt will fall to 63.7 percent of GDP in 2020, down from 78.7 percent in 2015.
"These do not factor in any impact from the Apple ruling but do incorporate the large upward revision to 2015 growth announced in July nike air max 97 silver offerta , mainly related to the reassessment of intangible assets of re-domiciled Irish companies and contract manufacturing," it said.
It also said any such benefit would be "partly offset by increased uncertainty over Ireland's attraction to global businesses potentially damaging FDI and employment."
But Fitch said this risk is "limited", because Ireland's low 12.5 percent corporate tax rate, and its high human development and governance indicators should keep the business environment attractive to multinationals, and the costs of relocating would be large.
The credit rating agency said the Apple ruling could add to uncertainty created by the Brexit referendum air max 97 silver uomo , which it said will slow export and investment growth.
It said divisions within Prime Minister Enda Kenny's minority government have become more evident despite a cabinet decision on Friday to formally lodge an appeal against the European Commission.
This shows the challenge that the minority government faces in formulating and enacting policy, Fitch said, adding that it has already been outvoted in parliament on some minor economic issues since its formation in May.
"A more unstable political backdrop would add to fiscal and economic risks," it concluded.
World Cup winners Germany were brimming with confidence ahead of Monday's Euro 2016 qualifier against Scotland in Glasgow that could see them book their ticket for next year's -tournament, after also beating rivals Poland 3-1 on Friday to take control of Group D.
A win against Scotland air max 97 gold uscita , combined with a defeat for Ireland against Georgia, would see the Germans open up a seven-point gap to the third-placed team with two matches remaining and secure a top-two finish and ticket to France next year, a completely different situation from only a few days ago.
The top two teams of each group automatically qualify with some teams who finish third going into playoffs.
"The Scots lost [1-0] to Georgia and so at home, if they want to have a chance of qualifying, they must invest a bit more in attack air max 97 gold uomo ," Germany coach Joachim Loew said. "So we don't expect to have such a defensive opponent as with Poland."
The Poles lurked on the break but ultimately buckled under German pressure with two goals from Mario Goetze and one from Thomas Mueller.
The win boosted the Germans' confidence after a shaky qualifying start -following their World Cup win last year and a shocking 2-0 loss to the Poles in -Warsaw 11 months ago.
"We succeeded with a series of combinations and a great positioning game to beat them," Loew said. "We will remain equally focused in Scotland and win that game as well."
The Germans could arguably now have a somewhat easier task with their next opponents desperate for points, leaving them more space than teams usually do against them.
More space for Germany means a faster passing game, with the fullbacks also acting as a second pair of wingers to add punch to their attack, just like -Jonas Hector and Emre Can did against -Poland. Cologne defender Hector was involved in two of the three goals.
"We wanted to take that risk with our fullbacks operating high so as to stretch the Poles out because normally they are good at shutting down the center of their defense nike air max 97 bianche ," Loew said. Scotland, needing points from this game to maintain their slim hopes of advancing, have their work cut out.
The Scots are fourth in the group on 11 points with Ireland third on 12 ahead and second-placed Poland on 14. The Germans lead with 16 points.
"We still need to be a bit more stable," scorer Mueller told reporters.
"We should not make so many individual mistakes. We must keep working at it."
MADRID, Sept. 17 (Xinhua) -- FC Barcelona will be without attacking midfielder Rafinha Alcantara after it was confirmed that he had broken the cruciate ligament in his right knee.
The incident happened just moments after Rafinha had entered Wednesday night's Champions League tie against Roma (which ended in a 1-1 draw) as a second half substitute.
He was the victim of a bad tackle from behind from Roma player air max 97 bianche uomo , Radja Nainggolan and had to leave the pitch on a stretcher.
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