A hard Brexit would be a "double-edged sword" for Ireland according to Goodbody Stockbrokers.
They warn that the impact will be both sectorally and geographically diverse. Goodbody believe the return of customs controls will bring about significant trade frictions for Irish exporters, particularly affecting the agri-food sector.
On the other hand, Goodbody claim there is now an increasing probability that financial firms will need to relocate their businesses in an EU country and this is an opportunity for Ireland, particularly Dublin.
According to Goodbody Stockbrokers, "Sterling rallied on the back of the speech yesterday, as most of the news was already in the market and there was confirmation that Parliament would be
consulted prior to the triggering of Article 50."
They added, "Confirmation that the UK would attempt to agree a transitional deal was also welcomed by markets. However, make no mistake; this is a combative stance that will undoubtedly cause issues once the proper negotiations begin with the EU."
Source: www.businessworld.ie
