📋 Tender Overview
Speaking at the DCU Brexit Institute Deputy Governor Ed Sibley outlined how the Central Banks work on Brexit has been delivering on the Central Banks mission to serve the Irish public good.He welcomed that the risk of the UK departing without a deal had been averted for now and recognised that intensive work has delivered a strong level of preparedness for the significant potential shock of the UK leaving the EU without a deal. He highlighted the importance of the work of the last decade of improving the resilience of the financial system.Mr Sibley noted that the ultimate outcome was still uncertain While we may be reaching the end of the beginning a hard Brexit is still sufficiently plausible to require planning. Financial services firms still have a duty of care to their customers to take advantage of the extra time available to continue to prepare for the UKs departure from the EU.Mr Sibley also welcomed the work of the DCU Brexit Institute and the launch of the BRIDGE Network praising the focus on finding solutions to range of interconnected issues facing the EU. He highlighted that the proposed departure agreement allows increased divergence between UK and EU rules and will result in increasing complexity in cross-border trade across range of sectors In other words even if ratified the current proposed deal will have economic impacts and affect the provision of financial services across the EU.Mr Sibley noted that the hard work needs to continue ensuring that we remain sufficiently focused on wider implications of Brexit and changing European dynamics As the UK leaves it is increasingly important that Ireland continues to invest in and enhance its approach to influencing the future direction of EU policy.
