DUBLIN has started preliminary discussions with Brussels over possible state aid in the event of a hard Brexit, Finance Minister Paschal Donohoe said, even as he said there would be no discussion with the UK over the backstop. DUBLIN has started preliminary discussions with Brussels over possible state aid in the event of a hard Brexit, Finance Minister Paschal Donohoe said, even as he said there would be no discussion with the UK over the backstop. Speaking to the Oireachtas Finance Committee, Minister Donohoe said the hit from hard Brexit to the Irish economy would be severe but that we would continue to see economic growth. Mr Donohoe said he was “having preliminary discussions” with Brussels regarding “the kind supports that may be needed from a state aid point of view” but noted that Brexit would actually have to happen before plans could be firmed up. Mr Donohoe said the Central Bank of Ireland has been able to provide assurance that the financial system as a whole was resilient enough to withstand a hard Brexit.

Source: Irish Independent February 05, 2019 21:45 UTC