Taoiseach Simon Harris.
Taoiseach Simon Harris said Ireland’s state investment funds will be able to protect the economy in case there “any shock” in the years ahead.
Mr Harris is in Budapest today to meet EU leaders at an informal European Council summit. Leaders will also discuss the election of Donald Trump to be the next US President and what impact he may have on economies around the world.
“The risk of a transatlantic shock has now increased, I think that is a statement of fact, but we need to work our way through all of these things and we need to engage with the administration on a European level.
“US elections are always consequential beyond their own borders,” he said.
“One of the very reasons we have ran Budget surpluses, one of the very reasons we have put money aside into funds to protect for the future is to make sure that if there is any shock to the Irish economy in the years ahead, or the European economy, or any sort of transatlantic trade shock, that actually there is a buffer in place in the Irish economy.
“We’ve been often excoriated as a Government and my own political party by political opponents for making those decisions, I think those decisions seem even more wise today than they did last week,” Mr Harris said.
Mr Harris said Mr Trump is a businessman and is “somewhat transactional”. He said Ireland offers talent, access to the EU and a “bridge” on the Atlantic.
“The EU is a major market and a major opportunity for the US to do business with the EU,” he said.
He said the EU and Ireland will work with the “democratically elected” President.
Mr Harris said Ireland’s neutrality position is “not up for discussion” but said there will be a need to invest more in defence and security.
On Ukraine, he said Europe should stand with Ukraine and said there “cannot be a situation” where territories are annexed.
He said any peace negotiations should be grounded in the EU Charter.
The Irish Government has sought a call with President-elect Donald Trump.
