Irish firms must plan for ‘hard Brexit’, central bank official says
UK’s exit from the single market is within the “planning horizon”, says Gerry Cross
Addressing the Independent Fund Directors Association on October 10, Gerry Cross, policy and risk director at the Central Bank of Ireland, said while the central bank is “hopeful” negotiations between the UK and the European Union “will lead to something different”, there is a possibility the UK will leave the single market.
“Ensuring regulated firms are planning effectively for this risk remains a key continuing focus for the central bank,” Cross said.
As a result, the Irish central bank has
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