| LONDON
LONDON A European Commission ruling that Apple Inc should pay Ireland up to 13 billion euros of back-dated taxes could help the country cut its debt significantly but may undermine its government, Standard & Poor’s told Reuters on Wednesday.
The European Union’s executive arm ordered Apple to pay the bill on Tuesday, ruling the iPhone maker had received illegal state aid.
Although Apple and Dublin have said they will contest the decision, economists have nevertheless been trying to calculate the possible impact on Ireland’s finances.
“There are many uncertainties ahead but if we assume that the money will definitely come through, the sum of 13 billion euros is not insig…
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