Saturday December 7, 2019

The call is coming from inside the house

Forget Brexit – our cost of living is skyrocketing despite sterling’s fall. But the perpetrator is not who you think

30th October, 2016
2

It has become an article of faith in Official Ireland post-Brexit that the dramatic fall in sterling has caused a serious problem for Irish competitiveness. The narrative spun is that the British vote has been disproportionately negative for Ireland because our currency has suddenly risen against the falling sterling, punishing Irish exporters and retailers. This sounds plausible, but it is not true.

The truth is that the appreciation of the Irish currency – first the...

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