That tends to happen when one country starts giving large free handouts to corporations, yes. It’s a shame that the EU is so spineless. Tariffs and severe commercial restrictions should have been de rigueur following the passing of the IRA.
At this rate, every large company in Europe will move to Dublin.
And will still be in Europe ...
To combat rising wealth inequality, we need to tax the super wealthy who have vacuumed most of the worker productivity gains of the last decades, but we can't because they exclusively go to the jurisdiction where they have "special deals" where they pay next to no taxes.
Europe can't keep having amazing social benefits if it starts an internal race to the bottom of who can give the best tax breaks to billionaires, and then the tax burden moves on to the already shrinking middle class.
Again this FUD? That's just pro-super wealthy propaganda that hasn't been proven true because it has never been done because of this propaganda FUD that the elites will leave.
Most of Europe's elite has their wealth in land. They can leave but they can't take the land with them.
Europe can't function if member states engage in zero tax for the wealthy race to the bottom. Nobody wins but the wealthy elite. Not all countries are Monaco.