Sinn Feinn’s electoral victory collapses the Dublin stock exchange
The Bank of Ireland and the AIB Group were among the shares with the largest market declines with decreases of 4% and 6% respectively
Tremors of Irish banks on Monday generated a drop of more than 1.2% on the Dublin Stock Exchange, following the rise of the political arm of the IRA, Sinn Fein, which won about 25% of the votes in the general elections.
The radical left party led by Mary Lou McDonald has beaten at the polls the two teams that make up the so-called bipartisanship and dominated the Irish political scene such as Fianna Fáil and Fine Gael, of which the current Prime Minister of Ireland Leo Varadkar is a member.
It is important to note that the Bank of Ireland and the important AIB Group were among the shares with decreases of 4% and 6%, what is considered one of the biggest falls in the market.
For his part, the political scientist and political analyst, Tom Gallagher, says that “the result is hilarious. Under the command of Mary Lou McDonald, leader of the middle class and private education areas of Sinn Fein, the party that was previously not interested in the economy issued an anti-austerity message and spoke in favor of citizens with difficulties, almost ten thousand of whom are homeless, an increase of four times since 2014.”
Although Sinn Feinn has been linked to the terrorist group IRA, it has focused its campaign on generating changes in taxation, social policies and the traditional reunification of Ireland, while Fine Gael, of the current Prime Minister, focused the shots in attacking Britain for Brexit and defending Irish membership in the euro.
K.Villarroel
Source: Information
