DUBLIN — Ahead of the U.K. exit from the European Union in March 2019, several Asian financial institutions have already set up hubs in other cities within the bloc to ensure continued access to the continent. Ireland is among the countries hoping to benefit from Asian unease prompted by the Brexit vote, with Dublin regularly touted alongside Amsterdam, Frankfurt, Luxembourg and Paris as possible destinations for banks trying to reposition due to Brexit. So far, Nomura International and Daiwa Securities have set up hubs in Frankfurt, base of the European Central Bank, to serve their European businesses while still keeping their London presence; Mitsubishi UFJ Financial Group has chosen Amsterdam for its new European base; and Bank of China has opened a new subsidiary in Dublin.
DOONBEG — Every time President Trump rails against big “pharma” over the jobs that have been shipped overseas, his pledges to streamline regulations and lower taxes to lure them home prompt grimaces 3,000 miles across the Atlantic Ocean. More than 50,000 people are employed with pharmaceutical and medical device companies here in Ireland, with most of the companies refugees from America. Baxter, a medical equipment manufacturer based in Deerfield, Illinois, employs a thousand people in Ireland. Pfizer, Boston Scientific and Johnson & Johnson all have substantial Irish operations. Dublin’s Silicon Docks neighborhood earned its nickname after Facebook, Google, Twitter and other U.S. tech companies set up in glossy offices, often mammoth European headquarters, close to the River Liffey. They are among an estimated 700 U.S. companies which, attracted by Ireland’s low corporate tax rate and English-speaking work force, have helped drive a multinational invasion on the Emerald Isle that once turned it into the “Celtic Tiger” of Europe, employing around 170,000 people in all.
CASTLEBAR — At first it was supposed to be around 5pm, then 6pm, then “maybe another half hour.” But it was only at 8.45pm on Saturday, as Taoiseach Enda Kenny edged through a throng of paparazzi and well-wishers, that Mayo’s first count showed the Fine Gael leader to have crossed the 12,730 quota. A lot of impatient pacing in a county that knows all about long waits – particularly in football. And even the so-called “short campaign” was a long wait, according to Michael Ring, the junior minister for tourism and sport and another Mayo Fine Gael seat winner. “We were campaigning since last summer and we thought we would have a November election” said Ring, who mentioned the word “tired” several times in a short interview. Unlike on Sunday when Ring was hoisted onto supporters’ shoulders after taking Mayo’s second seat, Kenny, weighed down by other concerns, kept his feet on the ground. Or maybe even the party die-hards were too tired waiting to shoulder the burden. “This is a disappointing say for our party and a particularly disappointing say for those who lost their seats,” was Kenny’s first comment to the encroaching press pack.
CASTLEBAR — Voters in Ireland delivered a stinging rebuke to governing parties in elections that reflected concerns that the country’s economic recovery was not being widely felt. In an echo of the sort of voter anger being heard in the United States this year, anti-establishment parties and independent candidates made significant gains, winning about 25% of the vote combined. Sinn Fein, the democratic socialist party that is linked to the Irish Republican Army, won 14% of the vote, making it the country’s third largest party. A center-right coalition led by Prime Minister Enda Kenny will not retain power after seeing its share of the vote fall from 56% in 2011 elections to around 32% in voting Friday, with several seats still to be counted Monday. With no party or alliance close to winning enough seats to form a government, it is unclear who will lead Ireland’s next government. Several government ministers lost their parliamentary seats in the vote, although the prime minister held on. Speaking to media after retaining his seat, Kenny said, “Democracy is exciting, but merciless when it kicks in.”
CASTLEBAR — It was a home crowd, a backslapping gathering in the town in western Ireland where Prime Minister Enda Kenny made his first foray into national politics four decades ago. But despite the warm campaign trail welcome, Kenny could not resist a dig at “whingers” in his hometown, who, despite Ireland’s economic growth — at more than 6% last year, the highest in Europe — nonetheless “find it very difficult to see any good anywhere any time.” Coming less than a week before Friday’s parliamentary elections, Kenny’s undiplomatic outburst astonished many in a country where, despite recent growth, many people are struggling seven years after a devastating economic collapse that put 300,000 people out of work — a parallel collapse to the U.S. subprime catastrophe — and which prompted devastating cuts to health and social spending. Voters in Castlebar had mixed reactions to the prime minister’s outburst. Declan Scully said he knew several former construction workers who have been out of work since the 2008 crash, when the “Celtic Tiger,” as Ireland’s roaring economy was known, went from being one of the most successful in Europe to a near basket case. As a result, he found Kenny’s comments “a bit disrespectful.”
KNOCK – The old parish church remains, while the newer, bigger church — which was named a basilica in 1979 by Pope John Paul II, during his short visit to Knock in late September of that year — has just reopened after a $10-million renovation. The original basilica building was partly intended to shelter the many pilgrims to Knock (sometimes numbering up to 1.6 million a year) from the west of Ireland’s swirling winds and bracing mists. Inside the old basilica, coat-clad pilgrims squeezed into benches that looked designed for primary-school children, as sermons and hymns echoed and faded inaudibly around the expanses of the five-chapel interior. That has all been remedied, however, as Father Patrick Burke, a priest at Knock, explained to the Register during this writer’s visit in April. “It had been talked about for a long time,” Father Burke said of the refurbishment, the physical part of which began after the final Mass of the 2014 pilgrimage season, which was held on Oct. 12 of last year.