Former regulator says Irish politicians ‘mindless’ over IFSC Russian risks

Stefan Gerlach says they do not recognise the risk in €100bn cash influx since 2007

Stefan Gerlach, former deputy governor of the Central Bank. Photograph: Dara Mac Dónaill

Stefan Gerlach, former deputy governor of the Central Bank. Photograph: Dara Mac Dónaill

Irish politicians are “mindlessly in favour” of growing the International Financial Services Centre (IFSC), according to a former deputy governor of the Central Bank.

Politicians don’t recognise the risks involved in its facilitation of massive influxes of cash to companies such as Russian banks and oil giants, says Stefan Gerlach.

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