McConalogue stresses need for EU solidarity with Ukraine
WAR IN EUROPE UPDATES
REECE CURTIS
The Minister for Agriculture, Food and the Marine, Charlie McConalogue has stressed the need for ongoing EU solidarity in the response to the Russian invasion of Ukraine
Speaking at the extraordinary informal meeting of European Union Agriculture Ministers, which was called by the French EU Presidency to discuss the consequences of the conflict for the European agri-food sector, Minister McConalogue welcomed the strong solidarity shown by the EU with Ukraine, and underlined the need to place the response firmly in the context of the need to maintain ongoing food security for all. He said: “In partnership with our fellow EU Member States, Ireland has continued to strongly support the most extensive EU sanctions on Russia for its outrageous actions. We must also ensure that the actions we take in that wider context, together with the burden that must be borne, are sustainable, and this will only be the case if we do all we can to maintain food security, for our own citizens, for the Ukrainian people and in a wider international context. Against this background, I welcome Commissioner Wojciechowski’s assurance today that the European Commission stands ready to make market support measures under the CMO regulation available as required.”
He added: “Our immediate actions should be focused on trying to maintain supply chains and minimise any disturbances to these. I have therefore also asked the European Commission to carefully risk assess what actions can be taken now in order to support supply chains. Above all, it was clear from today’s discussion that all other Member States shared Ireland’s assertion that we will not be found wanting in our efforts to support the people of Ukraine.“
IFA National Council passES resolution in solidarity with Ukrainian farmers
The IFA National Council at its meeting this week passed a unanimous resolution in solidarity with Ukrainian farmers. IFA President, Tim Cullinan, says that the Ukraine is a strongly agricultural country with a similar climate to Ireland. “Irish farmers feel a natural empathy with their colleagues in the Ukraine” he said. The war will have serious consequences for food markets in Europe and beyond but for the farmers of Ukraine, the ramifications are far beyond anything we face.
Healthcare support
A group of Ukrainian doctors working in the Irish healthcare system have collectively established ‘Medical Help Ukraine’, an initiative to urgently deliver medical aid from Ireland to support the ongoing conflict in Ukraine.
The initiative supported by the Ukrainian Embassy of Ireland, Lifeline Ambulance Services, the HSE, Blackrock Health (incorporating Blackrock Clinic, Galway Clinic, Hermitage Clinic and Limerick Clinic), Bons Secours Health System Ireland, UPMC Ireland, Mater Private Network, and Ryanair, will see the first delivery of an ambulance and two vans of medical equipment left Ireland on Wednesday 2, March.
These vehicles left Rosslare port at 9pm on Wednesday and will arrive in the Ukraine on Friday. The Ukrainian Embassy in Ireland is helping to facilitate the transportation to Ukraine through the Polish border.
Musgrave to donate €250,000 to Irish Red Cross and UNICEF Ukraine Crisis Appeal
Musgrave Group announces the launch of a major fundraising campaign across the island of Ireland to support people impacted by the crisis in Ukraine. As part of the campaign Musgrave will immediately donate €250,000 to the Irish Red Cross and UNICEF.
From today, shoppers in SuperValu, Centra and Donnybrook Fair will be able to donate €2 in the Republic of Ireland or £2 in Northern Ireland via a simple “Tap to Donate” mechanism in store at the till. In the coming days, shoppers in Musgrave MarketPlace, Mace NI and Daybreak will also be able to donate.
100 per cent of the funds donated will go directly to help fund the immediate humanitarian response. In the Republic of Ireland, the money raised will go to the Irish Red Cross while in Northern Ireland the funds raised will go to UNICEF.
Noel Keeley, CEO Musgrave Group, said: “Over the last number of days, we in Musgrave, along with our customers, colleagues and retailers have all been moved by the appalling crisis unfolding in Ukraine. We wanted to show our solidarity and to help in some practical way those impacted by these shocking and tragic events. Both charities we are working with have advised that donating funds is the fastest and most effective way to help people at this time. For this reason, Musgrave is immediately contributing €250,000 to the Irish Red Cross and UNICEF. We are also encouraging our customers to donate across our retail and wholesale brands. Working closely with the charities, we will ensure that 100 per cent of the donations go as quickly as possible to those who need it. Our thoughts are with those in Ukraine and with our many colleagues and friends from Ukraine.”
Bank of Ireland assistance
The war in Ukraine has sparked an unfolding humanitarian crisis and is an extremely worrying time for those with family, friends or colleagues in the country. We want to respond in any way we can to this fast-moving situation and we have initiated a number of measures to support those impacted:
We are refunding Bank of Ireland charges for customers sending money to family, friends or colleagues in Ukraine, backdated to 24 February.
Our Vulnerable Customer Unit will support displaced Ukrainians who need banking services, including guidance on transferring assets and any other assistance. Bank of Ireland offers advice to customers about opening accounts in 18 languages currently, and will be translating these documents to Ukrainian. These will be updated to the Bank of Ireland Group website as soon as possible.
As part of our initial response, we are donating €100,000 to UNICEF Ireland, as the charity works to deliver aid to people fleeing the conflict; and the financial services sector also plays a very important role in sanctions and payments screening. Bank of Ireland is applying all enhanced international banking sanctions that have been introduced since the invasion commenced, and stands ready to do more as directed by the international regulatory and political response.
Our thoughts are with the Ukrainian people. We will continue to closely monitor unfolding events and add to our response.
Market outlook
Davy stock brokers say that equity markets have so far taken a relatively benign view that the impact of events in Russia/Ukraine on developed economies will be relatively contained, with the exception of higher energy prices. Ireland is likely to be relatively insulated, with Russia accounting for just 0.4 per cent of goods exports and because the export sector is concentrated in defensive sectors such as pharmaceuticals and services trade, it is unlikely to be affected by supply-chain issues. Household savings were exceptionally high in 2021, providing a cushion to sustain spending in 2022 alongside robust jobs growth.
Equity markets have taken a relatively sanguine view of developments in Ukraine and the fall-out from sanctions on Russia – reflecting the view that the exposure of developed economies to Russia is limited and that central banks will take a more cautious approach to tightening monetary policy. Indeed, ECB Chief Economist Philip Lane was reported to have told policymakers that the conflict could reduce euro area GDP by 0.4% in a base case scenario. However, measures of options- implied volatility are elevated, pointing to markets potentially under-pricing risk.
Tour Operator cancels Russian programme
John Galligan Travel (JGT.ie), Dublin’s longest serving tour operator of packages from Ireland to Russia has cancelled all tours to Russia amid the Ukraine crisis, including their most popular short breaks to St Petersburg and Moscow as well as the “Highlights of Russia” holiday.
Earlier this week, JGT advised its Russian suppliers that all tours planned for the foreseeable future have been cancelled citing that while they admire the Russian people and strive to separate business and politics, the crisis between Russia and Ukraine is no longer able to be ignored.
'Irish airlines should offer free seats to Ukrainian refugees'
Fine Gael MEP Colm Markey is calling on Irish airlines to join Wizz Air and rail operators across mainland Europe in offering free seats to Ukrainians refugees. He was speaking as cross-channel rail company Eurostar announced that it has waived fares for Ukrainian passport holders seeking refuge in Britain. According to the United Nations Refugee Agency, 1 million people have now fled Ukraine to seek safety and millions more are likely to follow. Tens of thousands of refugees are expected to arrive in Ireland over the coming weeks.
The Midlands-North-West MEP said Ukrainians will be able to live on the same terms as EU citizens once an EU emergency measure is activated.
“Latest reports suggest that the EU Temporary Protection Directive may be signed off on today. This unprecedented measure would grant Ukrainian refugees the right to live and work in the EU immediately for up to one year. A major humanitarian crisis is unfolding inside the EU’s borders and I’m urging Irish airlines to offer free tickets to refugees hoping to travel from those border countries to their destination within Europe. Wizz Air, Eurostar and many other rail companies operating in mainland Europe have already waived fares in solidarity with the people of Ukraine. Europe is united in its response to the disaster unfolding on its soil and we can’t leave it to a handful of member states to cope with the influx of people trying to escape from the terror inflicted upon them by the Russian dictator.
Thousands of people will be seeking refuge in Ireland and it will challenging but I know the Irish people will welcome them with opens arms and many will also want to open their doors to help accommodate them. Ireland proudly stands with Ukraine and will play its part in protecting freedom and democracy”, he concluded.
Vigil at Maynooth University
Maynooth University will host a candlelight vigil in a gesture of support to all their Ukrainian colleagues, students, and graduates, as well as those from the entire region whose families, lives and livelihoods are affected by this crisis during this dark time.
Maynooth University President, Professor Eeva Leinonen, and Ukrainian PhD student at Maynooth University, Oleg Chupryna, will address the vigil.
This will be followed by a public seminar titled ‘Putin's attack on Ukraine: Explaining the war and what is at stake' by Professor Hana Cervinkova, Dr John Paul Newman, and Professor John O’Brennan, Director of Maynooth University’s Centre for European and Eurasian Studies.
In a letter to the Maynooth University community on Thursday, Prof Eeva Leinonen, said: “The invasion of Ukraine reminds us that whether they occur in Europe or anywhere in the world, violent acts that threaten democracy, trample free will and block access to essential goods and services are an affront to human rights and must be confronted. It is the responsibility of democratic institutions to speak for those whose voices have been forced underground, and as a University Sanctuary with a history of values grounded in social justice and human rights, I believe firmly that is something Maynooth University must do.”
Retailers' fundraiser
Irish grocery retailers, SuperValu and Centra, has announced the launch of a major fundraising campaign to support people impacted by the crisis in Ukraine. In addition to the fundraising campaign, Musgrave will donate an additional €250,000 to the Irish Red Cross and unicef.
From today, shoppers in SuperValu and Centra will be able to donate €2 in-store nationwide via a simple ‘Tap to Donate’ mechanism at the till. All of the funds donated from SuperValu and Centra will go directly to help fund the immediate humanitarian response through the Irish Red Cross.
Ian Allen, Managing Director of SuperValu and Centra said, “Our colleagues and customers across our stores, along with the rest of the nation, are keen to show our support to the people of Ukraine. Our charity partner, the Irish Red Cross, will ensure that aid can be delivered to those most in need as the crisis unfolds. We are making a contribution of €250,000 and encouraging customers to donate €2 at the till via our ‘Tap to Donate’ facility. We will ensure 100% of the money raised by our customers will be sent to those who need it most. The people of Ukraine are very much in the thoughts of us all here at SuperValu and Centra.”