Sterling decline is bad for Ireland; a 'no deal' Brexit even worse

A “no deal” outcome in Brexit negotiations would not come as a shock to anyone, but would represent the worst possible outcome for Ireland, argues Jim Power. 

In recent weeks, sterling has stabilised on the foreign exchange markets and has hovered around 89 pence against the euro.

That’s good because the UK currency going into free-fall is exactly not what the Irish economy needs, and a few short weeks ago it was threatening to do just that until a Bank of England official hinted at the possibility of a UK interest rate increase in the face of rising inflation in Britain.