The UK's decision to leave the European Union is unprecedented. With that comes uncertainty — these are completely uncharted waters. Whilst markets will ultimately adjust to an EU without the UK, a new deal between the two is still years away from completion, posing market turmoil in the shorter-term; and longer-term economic questions.
It is still difficult to precisely gauge the impact of any potential economic shock domestically. We believe that Ireland’s position as an English speaking gateway to one of the world’s largest markets will be even more significant than in the past. Given our proximity to one of the world’s largest markets, we have already seen some of our clients move or plan to move some or all of their operations or business lines to Ireland in order to retain access to the European market. We now have a new reality, one to which we must quickly adapt.