Fianna Fáil Finance spokesperson Michael McGrath has called on the EU to monitor “predatory” foreign investors moving in to buy up cheap assets during the coronavirus crisis. Mr McGrath said strategic assets in Ireland and other European States will see their value drop significantly and become attractive offerings for investors due to pandemic. “We need to be careful that certain strategic assets and companies are not snapped up by predatory investors that could potentially jeopardise national interests across the EU,” he said. He warned that “foreign regimes” could start buying important utility and transport companies if the EU did not take action. Spain and Australia have restricted foreign investors from buying strategic national assets during the worldwide health emergency.

Source: Irish Independent March 30, 2020 12:56 UTC