The cost of Britain’s exit from the European Union (Brexit) to the Irish economy are still unclear but could become considerable, the Central Bank of Ireland (CBI) says in the first edition of its 2017 macrofinancial review.
The Irish central bank says it has identified Brexit as “the primary external risk to the Irish economy and the Irish financial system”. While Brexit’s effects on Ireland’s financial sector were unclear, the bank said “a number of high-level effects are already clear”.
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