Belfast Telegraph

Ireland's central bank prepared for Brexit aftermath

By Colm Kelpie

Ireland's central bank Governor Professor Philip Lane has said he will be able to boost staff at the regulator to deal with any increased demand as a result of the UK vote to pull out of the EU.

Prof Lane said banks were already holding discussions in Dublin about the future, but it was too early to say to what degree Ireland would benefit.

The governor also told Bloomberg TV that there would be some level of relocation of companies "depending on how the (Brexit) negotiations go".

"Of course it will be a challenge, but if new business comes along, we will be able to staff up to deal with it.

"A certain amount of enquiries come to us (at the bank), but probably more of the action at this point is vis-a-vis law firms and other types of consultants who are helping global firms understand the pros and cons of Dublin versus other locations."

Conor O'Kelly, head of Ireland's National Treasury Management Agency, added that if the UK continued to "isolate itself", Ireland could benefit.

Belfast Telegraph