THE DEPARTMENT OF the Taoiseach has produced its latest assessment of the risks — both financial and otherwise — faced by the country at the moment.
The reason?
Better to be safe than sorry is, essentially, the sentiment behind the plan.
It was announced in 2013 that the Government would publish a National Risk Assessment each year, to set out the risks faced by the country “and therefore ensure appropriate prevention and mitigation measures are introduced”.
The latest assessment, looking at ‘Strategic Risks‘, details developments that could have a serious impact on Ireland.
On the agenda this year: Britain’s future in Europe, potential problems in the Irish housing market, and the rise of Islamic State.
According to the Taoiseach’s preamble:
We do not pretend that Government can anticipate every risk, but by being open to considering the full range of issues that could impact Ireland’s economic and social development, we can ensure that we have a real and mature discussion about the challenges that Ireland faces and how these should be addressed.
On Britain and the EU: The risk assessment notes that a fundamental change to the UK’s relationship with the EU could present challenges for Ireland in particular: economic and trade relations could be harmed and the peace process could be hampered.
On ‘misaligments’ in the housing market: The document says that the new Central Bank rules on borrowing look to have been effective in stabilising house prices in the Dublin area – but that asking prices outside the capital have continued to rise.
On the rise of Islamic State: The risk assessment warns of the possibility that ”a state like Ireland” could be used as a location to launch terror attacks.
It adds:
“Such incidents would be likely to cause extreme disruption in the short-term. More damaging might be longer-term reputational damage to Ireland as a safe and secure destination.
“In addition, the growing, global phenomenon of foreign fighters and
any possible security threat that radicalised returnees may pose to this country and beyond, necessitates close attention.”
For further bedtime reading, the full account of threats can be found here.
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