US banks eye Dublin as new base if UK exits EU

The English-style legal system in Ireland is one of the main reasons attracting Bank of America and other US banks to the Republic in contingency plans they are making for a British exit from the EU.

US banks are eyeing Dublin up if the UK departs from Europe littleny

Bank of America Merrill Lynch, Citigroup and Morgan Stanley are among those ‘preparing for the worst by considering Ireland as a ‘Brexit’ [Britain exiting the EU] option’, according to the Financial Times. With its English-speaking population and the International Financial Services Centre that hosts 500 companies, Ireland already has much of the necessary infrastructure. 

Referendum

The Conservative party under present prime minister David Cameron has promised a referendum on EU membership if it wins a majority in next year’s general election. Source: Financial Times

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