Central Bank: Brexit could cripple the IFSC

Central Bank: Brexit could cripple the IFSC

An internal bank analysis of the factors that could cause “systemic shocks” to Ireland also lays bare major risks to key IFSC activities, including the multitrillion-euro funds industry.

The Central Bank has warned that the state may have to step in to stop the IFSC from seizing up in the event of a hard Brexit, and that insurers could default on claims if no deal is reached between Britain and the EU before the deadline of next March.

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