Could and Would are different things.
These are extreme times - the future of the EU hangs in the balance. The Germans and French have a LOT of money tied up in Ireland and would like it paid back. Their taxpayers are sick of bailing out the stupid Paddies.If it isn't, they won't be bailing out the next PIIG to go sick.
High ideals about 'competition' were fine when Europe was awash with money.
Not anymore.
Reality bites.