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Hard Brexit `entirely plausible', says Central Bank deputy governor
A hard Brexit with no transition period is increasingly likely, the Central Bank's deputy governor Ed Sibley has warned.

In a speech delivered at a Financial Services Ireland event in Dublin on Tuesday, Mr Sibley said it was "entirely plausible" that a hard Brexit would happen and that companies need to prepare for such a scenario.

Speaking on Brexit, Mr Sibley said it would have a "direct and negative" impact on the Irish economy.

"This impact will have knock-on effects on the Irish financial services system. Even in a best-case scenario, new frictions and duplications, with associated costs, will emerge in the European financial services system. The loss of the UK voice from the European system of financial regulation is also negative, particularly for Ireland," he said.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Oct 17th, 2017 at 08:42:10 PM EST

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