S&P sees ‘business-friendly’ Irish economy remaining if Sinn Féin in government

Standard & Poor’s main analyst on Ireland’s creditworthiness said the State’s “business friendly” economic model and “strong institutions” should remain intact through any government changes, when asked on Thursday if he saw a Sinn Féin-led government posing a negative risk to the country’s credit rating.

S&P’s “base case assumption” is that the Republic’s openness to trade, flexible labour market and commitment to put its high public debt levels “on a downward trajectory” will remain in place “regardless of the election outcome in 2025, or if anything happens before”,He said that this has been S&P’s view ever since Sinn Féin secured the most first-preference votes, and the second-largest number of Dáil seats, in the February 2020 general election.

“So, now, if the current coalition Government falls at some point, it would add uncertainty at some point, which could be perceived as negative factor – but it wouldn’t necessarily mean that it would lead to a negative rating action,” Mr Carasse said. “The strength of the institutions in Ireland and also the recent [positive] trend in the economy … gives some leeway.

Members of the Government have argued – against the backdrop of strong recent polling figures for Sinn Féin – that a future government led by the republican party would be damage the Republic’s economy. Taoiseach Micheál Martin claimed earlier this month that Sinn Féin “left wing populism” agenda would “cripple the enterprise base” and level of employment in the State.

Funny S&P wasn't asked that question when MM became Taoiseach considering FF crashed the economy when last in power.

So S&P don't believe all SFs promises and populism either.

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