Calls for swift action to make IFSC more attractive to potential investors

A FLIGHT of funds and jobs from the International Financial Services Centre (IFSC) is likely unless the Government acts to make it more attractive to investors, it was claimed last night.

Denis Casey, the chairman of Financial Services Ireland, warned there is a "real and imminent danger" that significant parts of the international asset financing and leasing sector, and the corporate treasury sector, will flee the IFSC unless steps are taken soon to protect the industry.

"The events of the last 10 days in Donegal are a timely reminder of the intense global competition for jobs; we must be alert to the ever-present risks to the international financial sector that has been the jewel in the crown of the Irish economy in recent years," he said.