Pat Cox offers Brexit mid-term evaluation at Chamber Breakfast

“This is coming, this will happen but to what degree we don’t know”, was Pat Cox’s stark warning on Brexit to a large audience of business people at a Waterford Chamber Breakfast Briefing, held in association with Appian Asset Management in Dooley’s Hotel this morning (Thursday, 22nd March).

Offering a “Brexit countdown – one year on, one year to go – a mid-term evaluation”, Mr Cox, former President of the European Union and Director of Appian Asset Management, outlined the path to the current situation and where to from here.

“We are the country who will have the most brutal consequences as a result of a hard Brexit”, he said. “Don’t think when we get to this time next year it’s the end – it’s only the beginning of a new chapter.”

While he believes there are many opportunities for Ireland as a result of Brexit, in terms of UK-based companies looking to have an English-speaking European base, he said we must also be aware that the reverse is also likely, where Irish-based companies will look at relocating within the UK to be closer to their markets.

Outlining the potential scenarios in terms of trade, he said at this point nobody could be sure as to what lies ahead but he warned that business people must begin to take the issue of Brexit seriously and start to look at the implications for their own business, pointing out that there is plenty of help available from agencies like Bord Bia, Enterprise Ireland, Waterford Chamber and its membership.

Mr Cox also remarked that he was hugely encouraged by the air of positivity he felt during his visit to Waterford, saying the thinking is now coming in line with Scandinavian models of working together for the betterment of the entire region on a macro basis.

Fully supporting Waterford Chamber’s 2040 Vision, Mr Cox said, “Your imagination for the future should be yes for Waterford but not for Waterford only.”

Waterford Chamber President Paul Nolan echoed the sentiments, saying “We are spending a lot of time talking about the National Planning Framework and working with other regional cities to create a viable alternative to Dublin. The Scandanavian model is certainly interesting and merits study. We have been told to think ‘big’ and with joined up thinking and ongoing collaboration, we will achieve ‘big’.”

Also speaking at the event, Appian Asset Management Director Eugene Kiernan outlined that they are a leading Irish-based and owned asset manager, managing a range of funds which invest globally, to grow and protect client assets while generating sustainable income. For more information on Appian go to www.appianasset.ie.