Irish consumers’ interests may not coincide with the needs of banks relocating here.
Europe’s financial centre is splitting up, possibly for the better. Dublin has gained a lot of new business from London’s exodus, becoming the top choice of firms seeking higher ground post-Brexit. Now Ireland must decide whether it wants to be a leader or a counterweight in Europe’s financial future.
With the departure of the UK as the financial industry’s primary voice, the EU will have a chance to redefine how it approaches its banking and capital markets.
Already, debates have begun about making the regulatory framework more centralised or enabling a more regionally diverse and competitive financial sector. Proponents of a homogenous approach argue that a level playing field requires common