Ireland's Foreign Direct Investment Sector : The Impact of a Hypothetical Irish Euro Zone Exit

The European sovereign debt crisis that has been playing out since 2008 has lead too much questioning over the future of the single currency which, so far, favoured foreign direct investment (FDI) in countries such as Ireland, contributing to their well-being and growth. Drawing on data gathered from interviews with individuals involved in different divisions of the FDI sector, namely the services, high-tech and life sciences, this study evaluates the hypothetical consequences for Ireland's FDI sector, following an Irish Euro zone exit. The findings illustrate that the reactions of foreign companies would heavily depend on the ease of transferability in the organisation's operations. Ireland outside the Euro zone would struggle to both maintain and attract new FDI. The resultant consequences for Ireland's economy would include increased unemployment, reduced exchequer returns and export levels, as well as stagnant economic growth