John Carney explains what went down at the Clinton Global Initiative:
Mo Ibrahim, the Sudanese billionaire telecommunications entrepreneur, said that the "first thing" global technology corporations could do to benefit Africa is "to pay their taxes."
"Frankly, the whole taxation system around the world is really broken," Ibrahim said. "Business can globalize but out taxation is still country-based. And then countries compete. Ireland tells Google…"
This is where Bono interrupted. It was the first time anyone cut in on someone else's remarks all morning.
"We're very pleased to compete on that front," Bono said.
In the Guardian interview, Bono elaborated more on this.
"Tax competitiveness has taken our country out of poverty. People in the revenue accept that if you engage in that policy then some people are going to go out, and some people are coming in. It has been a successful policy. On the cranky left that is very annoying, I can see that. But tax competitiveness is why Ireland has stayed afloat. When the Germans tried to impose a different tax regime on the country in exchange for a bailout, the taoiseach said they would rather not have the bailout," he said.