A new strategy for the sector will be launched today by Michael D'Arcy, Minister of State with special responsibility for Financial Services and Insurance, and Finance Minister Paschal Donohoe. The Central Bank lost that role following the crash. The Minister said complaints that the Central Bank here had failed to encourage banks and insurers leaving the UK as a result of Brexit - in contrast to some European peers - were wrong. The Central Bank were certainly unwelcoming of companies trying to trade somewhere else but pretend they were here. "We want to establish a better structure with the Central Bank regulators and industry so we have agreed wording with the Central Bank that we will look at other eurozone countries and replicate what they do," he said.

Source: Irish Independent April 26, 2019 01:30 UTC