Scores of UK Banks Consider Moving to Ireland

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The head of the agency whose primary role is in seeking foreign stock in the country of Ireland has stated that UK banks and other financial firms are currently considering of a complete relocation to Ireland.

Dozens of banks and other firms have been considering this matter as soon as Brexit had hit the UK, as their interests have worried them of the uncertainty to the UK’s future.

Chief executive of the Industrial Development Agency (IDA) Martin Shanahan stated that Brexit had not necessarily been the preferred path for both him and the residents of Ireland, adding that he does not fear Donald Trump leading the United States would result in the termination of multi-national assets for Ireland.

Ireland Remains Hopeful

The IDA has announced that as of 2019, they expect to have an additional 80,000 jobs to be formed for their residents, which also come from the help of American financial institutions situating their firms in Ireland.

After Brexit, Ireland as of now continues to serve as Europe’s only native English speaking country, which serves as a rather advantageous stance in their matter.

This fact will be regarded as a major incentive in attracting dozens of companies and other financial firms, in which a percentage of them currently preside within the UK.

More in Store

Shanahan says that they have witnessed an enormous spike and have allegedly received even more inquiries from major financial prowess such as Asia and the United States, with New York being specifically listed.

The chief executive went on to mention that since Ireland is an English speaking nation, is rather close to the UK, and because the policies and laws that they abide by are similar to that of others, Ireland continues to be regarded as a top priority for nations outside of Europe to rely on when needing a European market.

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