Bloomberg praises Ireland and criticises US policy at Dublin event
MICHAEL BLOOMBERG has praised Ireland's 'growing' economy.
The founder of Bloomberg LP, who is a former mayor of New York, made positive statements about the nation during an event launching Bloomberg's new office in Dublin.
He also expressed concerns over America's current direction during his speech.
'Ireland is writing a new chapter,' Bloomberg said. 'It's growing, while America is increasingly anxious about growth. We're proud to invest here.'
Bloomberg employs around 150 people in Dublin, with plans to hire 25 more, mostly in engineering.
He cited Ireland's strong talent pool and post-Brexit position as the main reasons for its financial sector boom, noting that 20 of the top 25 global financial firms now have operations in the country.
Bloomberg was critical of President Donald Trump and the administration's foreign policy.
'America spent 70 years building global relationships; now we're throwing much of that away,' he said.
Recalling his decades-long acquaintance with Trump, Bloomberg described him as 'pleasant' but disagreed sharply with his leadership and policies.
He also reiterated his commitment to editorial neutrality at Bloomberg News, saying the organisation maintains political balance and that he avoids personal visits to the White House to preserve its independence.
Ireland's Finance Minister Paschal Donohoe, also speaking at the event, warned of economic risks tied to Trump's tariffs and the ongoing tension in the Middle East.
He noted that up to 75,000 jobs may not be created in the short term if tariffs persist, with a possible 1–1.5 percentage point hit to GDP growth.
Donohoe stressed that Ireland would prioritise capital investment to maintain economic stability: 'That's why we're running surpluses - so we can respond if growth slows,' he said.
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