American Chamber of Commerce Ireland calls for transatlantic data deal

New American Chamber of Commerce Ireland president Bob Savage has warned of serious implications arising if the EU and US fail to agree a new mechanism for cross border data transfers.

Up to 65% of small firms in Ireland depend on cross Atlantic data transfers and new chamber president Bob Savage said yesterday that firms could find obstacles to doing business in the US and citizens could have difficulty carrying out online banking while there if no agreement is reached.

Mr Savage also heads the Irish division of global cloud computing and data storage company EMC.

“In a 21st century society cross-border data transfers are essential; they facilitate business transactions, innovation, economic growth and job creation.

“Following the recent European Court of Justice decision to stike down the Safe Harbour Agreement that allowed for transatlantic data transfer, there is a very real risk that EU-US trade could be gravely damaged, jobs lost in the EU and the day-to-day lives of citizens significantly impacted.

“From next week, European data protection authorities may begin examinations of companies’ data transfer arrangements and in the absence of an EU-US agreement many companies may have to cease such transfers,” Mr Savage said.

He also reiterated the chamber’s stance that new European Commission multinational tax recommendations — aimed at recouping the estimated €70bn underpaid annually — won’t damage Ireland’s attractiveness to US firms looking to invest in Europe.

However, he said Ireland’s marginal personal tax rates, cost competitiveness and skills levels must be constantly reviewed.


Lifestyle

SECOND Captains is one of the long-running success stories in Irish podcasting. Ostensibly a sports show led by Eoin McDevitt, Ken Early, and Ciarán Murphy, the former Off The Ball team from Newstalk launched the podcast in mid-2013. two Monday shows are offered for free, with Tuesday-Friday behind a Patreon subscriber model and dubbed ‘The World Service’. It has more than 11,500 subscribers.Podcast Corner: First-class podcasts from Second Captains

The incredible life of Ireland’s first celebrity chef has been turned into a play, writes Colette SheridanHow Maura Laverty cooked up a storm

Their paths first crossed on the top floor of the library at University College Cork in October 2010 when both were students there so Amy Coleman and Steven Robinson were delighted to retrace their footsteps on their big day.Wedding of the Week: College sweethearts open new chapter

Peter Dowdall reveals why all roads will lead to Tullow in County Carlow on February 1Snowdrop patrol: Why all roads will lead to County Carlow

More From The Irish Examiner