Central Bank warns ‘Brexit will bring no good’

There is no good outcome for the Irish economy from the UK’s decision to exit the EU, the Central Bank has warned, with indigenous firms likely to be in the frontline for years to come.

Since the outcome of the June 23 vote, Government and think tanks have been reluctant to estimate in any detail the potential costs that the UK exit could impose on Irish firms.

The British market is significant for Irish firms because many firms in the agri-foods, clothing, footwear and tourism industries employ disproportionately more people than the multinationals exporting across the Irish Sea.