Now you may have heard, Ireland just had an election.
The outcome was something of a massacre for the Green Party who lost virtually all their seats.
Fianna Fáil won 48 seats, followed by Sinn Féin with 39, Fine Gael 38, Labour 11, Social Democrats 11, Independents 21, People Before Profit Solidarity 3, Aontú 2 and the Green Party just 1.
With Fianna Fáil now the largest party in the Dáil, a likely outcome could be a coalition with Fine Gael, but there are concerns in Fine Gael that Fianna Fáil might use it larger numbers to squeeze any coalition partner over new government programmes.
It’s thought a continuation of the rotating taoiseach arrangement and near parity in cabinet will be red lines for Fine Gael, although the two leaders have yet to meet, and any possible deal making remains speculative.
With a growing sense in both parties that Labour may be hard to persuade to join a coalition, there is a growing focus on Independents who might be prepared to support it.
We’ll keep you informed of how things develop.
This is an important time for Ireland given the possible disruption to trade following the US election, but it’s also potentially a bonus for trade in this region.
