August 15, 2019 / 8:47 AM / a month ago

Ireland well-placed to respond to growing no deal Brexit risk - minister

FILE PHOTO: Ireland's Minister for Finance and Public Expenditure Paschal Donohoe arrives at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne/File Photo

DUBLIN (Reuters) - The growing possibility of a no deal Brexit will present a very difficult shock for Ireland but is one its strongly growing economy is well-placed to respond to, Irish Finance Minister Paschal Donohoe said on Thursday.

“I believe the possibility of a no deal Brexit taking place is clearly growing. It is a material risk in the way it perhaps wasn’t 12 months ago,” Donohoe told Ireland’s Newstalk radio station.

“It’s really important to emphasise that even in the scenario of a no deal Brexit, while it will pose a very difficult shock for our economy, we have an economy that is well capable of responding back to that, approaching such a challenge with more people working in Ireland than we ever have before.”

Reporting by Padraic Halpin; Editing by Hugh Lawson

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