Oireachtas Joint and Select Committees

Tuesday, 26 January 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Banking Sector and Central Bank of Ireland: Discussion

3:55 pm

Professor Philip Lane:

I hope this is concluded quickly. It would be good if they do have the referendum in June so that, either way, we will know what we are dealing with. With China, we more or less know the nature of the risk and what would happen if there were a big slow-down there or a big devaluation of the yuan renminbi, RMB. The issue with Brexit is that there are so many different scenarios following it. I am definitely on the side of those who say the cumulative impact on Ireland would be quite adverse. It is something for which we do not wish from an economic and financial perspective, let alone as regards the politics and so on. I would hope that the vote is taken quickly and that they vote to stay in, although it is obviously up to the UK electorate to decide on that.

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