Wednesday 20 September 2017

Top Irish officials raise worries about Trump's Presidency

Central Bank Governor Philip Lane Photo: Tony Gavin
Central Bank Governor Philip Lane Photo: Tony Gavin
Colm Kelpie

Colm Kelpie

Central Bank Governor Professor Philip Lane, pictured, and senior government officials here have raised concerns about the potential economic impact of Donald Trump's Presidency, documents show.

Just days before the businessman was inaugurated as the 45th President of the United States, top officials from the Department of Finance, Central Bank and National Treasury Management Agency (NTMA) raised fears about his potential policies around trade and changes to US corporation tax.

The matter was discussed at January's meeting of the Financial Stability Group, which replaced the Principals' Group, and meets each month to discuss issues around financial stability.

"All members agreed that there are significant risks posed by US policy changes in relation to international trade, investment and corporate tax," read the minutes of the meeting note, which were released to the Irish Independent under Freedom of Information.

"These risks will feature strongly in the Department's economic analysis and policy work during the year."

Officials at the meeting included Prof Lane, deputy governor Sharon Donnery and now former deputy governor and financial regulator Cyril Roux, Department of Finance secretary general Derek Moran and the head of the NTMA, Conor O'Kelly.

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