IRexit

January 23, 2017

Listening to Ireland’s pitch for financial services located in London to locate in Dublin following Brexit  must be like listening to the German government during World War 1 or WW11 pitching to non participants in the conflict to set up embassies  located somewhere near the Maginot or Siegfried lines of national defence just as the shells begin to fall. (1)

Eoghan Murphy minister for state (for Brexit) asked on Morning Ireland 23.01.17 if he was asked during his pitches  at various forums around the world trips at taxpayers expense if property prices in Ireland would pose a problem, stated that the subject was not raised once. I humbly suggest the reason for this was that no one in their right mind was contemplating relocating to Dublin.(1a)

Falling land prices make the price of an average dwelling in the Dublin suburb is similar to the price of a 50 acre farm outside Dublin.

This is before Brexit will wipe out 50% of exports to UK of agri-production with UK opportunities to outsource their requirements at lower prices perhaps in new trade deals with Brazil/New Zealand et al.

With English the universal language of commerce, science and financial services the value of Ireland being English-speaking is moot.

(2) “Frankfurt

On mainland Europe, Germany’s financial district would be an obvious choice to replace London – and has the added global reach that Dublin lacks, UBS said.

Already home to the European Central Bank, the Bundesbank and several global financial services firms such as Deutsche Bank and Commerzbank, the EU’s biggest economy is well primed to pick up where London might leave off, despite having stricter labour laws than the UK.

The city is already preparing for an influx of 10,000 or so bankers over the next five years – and those from London can look forward to cheaper living costs and shorter commutes.

Frankfurt also boasts the third-largest airport in the EU, with excellent transport connections across the world, and has an office vacancy rate twice that of Dublin at around 12pc, with half a million square metres of work space available in the city centre. ”

Both Amsterdam and Paris are contenders having short hops to London and Frankfurt and good infrastructure.

Dublin in the austerity grip of disappearing public services, greater political upheaval potential as the divide between rich and poor increases, looming turmoil especially in the agriculture sector due to repossessions as yields fall because of Brexit, is not an attractive venue following the triggering of Brexit under article 50.

(2) http://www.telegraph.co.uk/property/news/which-cities-could-replace-london-as-europes-financial-centre–a/

Preparations for Brexit are personalised in Ireland around the dictated orders of the european_dis_integration__alexander_dubovskyDepartment of An Taoiseach:

“Yet the taoiseach and his secretary general Martin Fraser have kept firm control of Brexit policy, and appointed John Callinan, another civil servant with Brussels experience, as second secretary in Government Buildings. They set up a Brexit cabinet subcommittee under the chairmanship of Kenny and including several senior ministers. A Brexit working group is chaired by Fraser and includes top officials from the departments of foreign affairs, finance and public expenditure, as well as the IDA, Enterprise Ireland, the attorney general’s office and other agencies” (Sunday Times, 22.01.17 P8)

In one way it makes sense to have the Taoiseach lead negotiations over Brexit as when the Irish economy begins to splutter and shut down and the smugglers’ Black economy between north and south grows, held together by the illicit sale of smuggled cigarettes and cheap agricultural produce defying new border controls, Kenny can be slipped into retirement.

But it looks like the above group is a waste of time, effort and money. Better use could be made of the group sourcing new markets for Irish exports, negotiating directly with a committee from the UK parliament on common needs.

In the wake of the financial collapse of the economic project of the EU that has led to Brexit, the collapse of peripheral economies across Europe, banking collapse dangers in Italy, a collapse that will be further consolidated by emigration policies and further austerity with imminent closure of Irish corporation tax loopholes, we should ignore An Taoiseach’s efforts over Brexit tilting at windmills as apparently he is also ignored across Europe.

If unfortunately we choose to stay as appears to be the case perhaps the above group can produce a report of the effects of Brexit for Ireland, how Europe will compensate Ireland for such losses. Such pertinent questions will not be mooted by Ireland’s swans as they swim in the vast and resplendent halls of Val Halla,  in Brussels…at taxpayers expense.

If we had even the semblence of a true democracy in Ireland given the implications of Brexit for Ireland, results should be put before the people in a referendum for Irexit.

Europe has failed having fallen victim to the abuse of global financial services that may lead to global collapse of the financial services industry…but that is a topic for another day.

Visiting London not so long ago, I was surprised by the vast number of cranes across the centre of London, the vast numbers of tourists, the UK economy filled with positive energy was far from collapse.

(1) http://general-history.com/the-siegfried-and-maginot-lines-similarities-and-differences/

(1a) http://www.irishtimes.com/business/financial-services/minister-urges-assertiveness-to-attract-post-brexit-business-1.2946870

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