Home > Economy > Disorderly Brexit is one of the main risks to the Irish economy warns Central Bank

Disorderly Brexit is one of the main risks to the Irish economy warns Central Bank

Written by Robert McHugh, on 23rd Jul 2019. Posted in Economy

article headline

Acting Governor of the Central Bank of Ireland, Sharon Donnery, discussed the current economic outlook yesterday at the MacGill Summer School in Glenties, Co Donegal. 
 
Donnery warned that the economy needs to be resilient to the risks associated with strong domestic growth as well as external threats. She further stated that strong domestic economic performance points to an increased risk of an overheating economy and prudent management of the economy is needed.
 
Discussing the preparation for the risks associated with Brexit, Donnery said a no-deal Brexit would likely bring considerable volatility to financial markets, with heightened stress and a potentially large depreciation of Sterling. 

Donnery warned, "Through our preparations over the last three years we have more specifically strengthened resilience to Brexit. Today the main outstanding source of risk to financial stability stems from a worse than expected macroeconomic shock."

Source: www.businessworld.ie

More articles from Economy

image Description

Ireland scrambles to help firms with Brexit customs burden

Read more
image Description

Irish GDP makes strong start to 2019

Read more
image Description

Ireland remains one of the fastest-growing economies in Europe

Read more
image Description

Ireland remains competitive but threats remain

Read more
image Description

Ireland to run budget deficit of up to 1.5% if no-deal Brexit

Read more