“The main issue facing the Irish economy is Brexit, and, in particular, the possibility of a disorderly Brexit occurring,” it said. “A hard Brexit would cause a substantial reduction in output and employment. In the event of a hard Brexit, a weaker pound could coincide with an increase on tariffs on those exports. “Brexit could also disrupt the activities of firms reliant on imports from the UK.”Furthermore, the regulator warned that a hard Brexit could lead to reduced profitability for Irish banks. “Many firms are in the process of implementing plans to mitigate the impact of a hard Brexit on their business models,” said the Central Bank.

Source: The Irish Times December 07, 2018 16:18 UTC