IDA CEO becomes an ‘unlikely viral video star’

The New York Times has described the head of the IDA, who endured a bizarre interview on American business television channel CNBC, as an "unlikely viral video star."

Since The Irish Times first spotted the video of IDA chief Martin Shanahan on Youtube, when it had been viewed less than five times, it has been watched almost 300,000 times by viewers around the world.

The interview by CNBC "Squawk Box" presenter Joe Kernan saw Ireland's man responsible for attracting technology giants like Google, Facebook and Twitter as well as pharmaceutical titans Pfizer and West Pharma being repeatedly quizzed in an off-the wall line of questioning.

This included Mr Kernan, a regular co-host of the show, asking Mr Shanahan do tax breaks lead to better golfers, is Ireland really in the euro, is it not just part of Britain and is it actually its own island.

The New York times likened the interview to a scene from "the Marx brothers or Abbott and Costello."

Mr Shanahan, who was only appointed to the top job in the IDA in June, somehow keeps his cool throughout and remains steadfastly polite despite the questions going increasingly off the scale.

A spokesman for CNBC has declined to comment on the reaction to the exchange and Mr Kernan has yet to comment in detail on the exchange despite enduring a barrage of abuse and teasing on Twitter.

The story has so far been covered in the international press by The Financial Times, the New Statesman and Business Insider among many others.

Mr Shanahan meanwhile has received widespread support from hundreds of Irish people on Twitter, Facebook and other social networks as well as in postings in the comment section of news websites.

Irish American comedian Des Bishop, who has 138,000 followers on Twitter, has also weighed into the debate. He told his Twitter followers last night that "I knew this CNBC presenter was a fool but surely he has lost all credibility now," before linking to the Irish Times story.

He also told his followers that CNBC’s lack of knowledge about Ireland was surprising as, “It’s a finance channel too. Not to mention there were years of going on about Irish debt.”

Joe O’Shea, the journalist and author, has tweeted a picture of Mr Kernan meeting Irish golfer Rory McIllroy in Scotland on a recent golfing trip with the caption:

“CNBC’s Joe Kernan meets the greatest Scotlandlish Golfer Rory McElsterling and borrows a few Zloty.”

The IDA meanwhile issued a statement yesterday that was steadfastly diplomatic about the incident.

"IDA Ireland regularly organises US media appearances for our CEO, Martin Shanahan where we meet with organisations like Wall Street Journal, Bloomberg, New York Times and CNBC to explain why companies should locate their business in Ireland," it said.

“CNBC Squawk Box is one of the most iconic business shows in the US where it provides IDA Ireland with a platform to talk directly to CEO and CFOs - these are the people making decisions on where to locate investment,” it added. “We hope to be back on the show again in the near future talking about why Ireland is a great place to do business.”

The previous chief executive of the IDA Barry O’Leary has also previously appeared on CNBC’s Squawk Box and its public relations firm in New York has also posted these interviews to Youtube.

These interviews with Mr O’Leary have only been viewed a few hundred times at best, unlike his successor whose first appearance on the show is continuing to rack up more and more views.

A transcript of the actual exchange on CNBC is below:

CNBC: How does the tax policy turn out such a string of great golfers, Graham, Rory...is it the tax, is this another tax, how does the tax affect the...it is a small place to have so many good golfers?

Shanahan: It is the environment that is probably doing that. It is a pretty good place to live and visit and everything else.

CNBC: What has the weaker euro meant in terms of tourism?

Shanahan: So, I think, em, Ireland is a very globalised economy so we look to what is happening here as much as we do to what is happening in Europe and we look to what is happening in...

CNBC: You have pounds anyway don't you still?

Shanahan: We have Euros.

CNBC: You have Euros in Ireland?

Shanahan: Yes. We have euros, which is eh...

CNBC: Why do you have euros in Ireland?

Shanahan: A strong recovery....

CNBC: Why do use euros in Ireland?

Shanhan: Why wouldn't we have euros in Ireland?

CNBC: Huh. I'd use the pound.

Shanahan: We use euro.

CNBC: What about Scotland? I was using Scottish eh...

Shanahan: Scottish pounds.

CNBC: Scottish pounds.

Shanahan: They use Sterling.

CNBC: They use sterling?

Shanahan: They use sterling. But we use euro.

CNBC: What? Why would you do that?

Shanahan: Why wouldn't we do that.

CNBC: Why didn't Scotland? No wander they wanted to break away.

Shanahan: They are part of the UK we are not.

CNBC: Aren't you right next to er?

Shanahan: We are very close but entirely separate.

CNBC: It is sort of the same, same island isn't it?

Shanhan: And in the North of Ireland they have sterling.

CNBC: They do?

Shanhan: And in the North of Ireland they use sterling.

CNBC: It is just too confusing...