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Ireland facing serious issue after Brexit

 

 

There has been a lot of enquiries from companies considering moving to Ireland from the UK in the wake of the Brexit vote, according to the Finance Minister Michael Noonan.

The minister, who is in London this week, told Bloomberg TV that while there had been interest from companies, no decisions had been made yet.

He said that economic conditions had been improving, and if it had not been for Brexit we were looking at a smooth sea ahead of us for our voyage.

He stated that Brexit is a very serious issue.

On AIB, Mr Noonan said he was keeping an open mind on floating the State’s 99.8% stake in the bank on the stock market.

However, because Ireland was now able to raise money on the bond market at low rates the pressure to sell the AIB stake to pay debt had eased.

The decision will be on the best value for the shares. I will sell at the best time, it may be in 2017 but there is no decision yet, the Minister added.

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