Todays statement from Mark Carney, Bank of England spelling out his short/mid term view, I think puts Ireland and NI in an absolutely fantastic position.. Ill explain why, and of course, it is just my opinion.
Mark Carney has announced short to mid term, they will cut the base rate. Now he cant go down far, as at 0.5% theres not much room for anything. So most pundits are in agreement the base rate will go to about 0.25%.
Mark Carney has also announced base rate cuts on commercial lending. This is hugely significant, as it is a massive attraction for investors to borrow.
There is and will continue to be sustained low interest rates for the next 5, 6 years, even some pundits feel, maybe dropping into negative rates. The BoE were indeed prepared for a Brexit vote, and they have have mitigated their risks, whatever deal is thrashed out with the EU.
He was clear to say, you cant anticipate fully what may happen, and there will be forces outside their control that could impact monetary policy, but, IMO, the BoE are pretty good at covering their arses.
So how does that affect Ireland and NI.
You have a unique situation in Ireland and NI. And in very simplistic terms, Ireland has the gateway to the single market, and NI has access to what will be the cheapest borrowing in the world on a secure, uninterfered with £ sterling.
For me, this is an absolutely fantastic situation. Sure, its just IMO. But with co-operation and the respect you guys have shown each other in the last generation, this is a world changing powerhouse about to be born, relying on each retaining their unique identity.