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Ireland examining export guarantee scheme for Brexit-hit firms

Published 10/11/2016, 16:54
Updated 10/11/2016, 17:00
© Reuters. Ireland's Finance Minister Noonan attends an interview with Reuters at his office in central Dublin

DUBLIN (Reuters) - The Irish government is looking at introducing an export guarantee arrangement for vulnerable Irish industries hit by Britain's vote to leave the European Union, Finance Minister Michael Noonan said on Thursday.

Britain is a key trading partner for Ireland's export-focused economy and firms are already suffering after June's vote sent the value of sterling tumbling, prompting calls for the state to guarantee some credit exposures to suppliers.

© Reuters. Ireland's Finance Minister Noonan attends an interview with Reuters at his office in central Dublin

"We are looking at the possibility of developing an export guarantee arrangement for vulnerable Irish industries and I'd be hoping to make an announcement on that before Christmas," Noonan told parliament.

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