Think of a no-deal Brexit with introduction of trade tariffs or a second wave of Covid-19 and a second shutdown. Significantly, the Central Bank does not speculate on the probability of either outcome, suggesting it’s a public health matter and therefore outside its bailiwick. The Dracula scenario would be if a second wave of the virus and a disorderly no-deal Brexit hit at the same time. Ironically, the Central Bank speculates that Covid-19 may fast-track some of the expected business failures under Brexit. The Central Bank also speculates in its report about the impact of the virus on the housing crisis.

Source: The Irish Times July 03, 2020 14:37 UTC