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Ireland warns of consequences Brexitului UK!

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Ireland Warns the UK about the Consequences of Brexit

Many Irish experts have warned Britain of the severe economic consequences of the decision to leave the European Union. On the referendum held on June 23rd earlier this year, 52% of the British electorate voted to leave the EU.

Ireland’s Prime Minister Enda Kenny plans to convene an international summit of political leaders from across Europe to consider the consequences of Brexit. Many Irish exporters are suffering because of the slump in the value of the Pound following the Brexit referendum. The Pound is today worth 1.11 Euros, registering a substantial fall of 27% in just 12 months.

Prime Minister Kenny said he would be calling an All Island Civic Dialogue on 2 November, where politicians from Ireland and Britain would be involved. He added, “It is really important that we have all of the voices reflective of Ireland over a series of meetings. I am going to invite to that all of the political parties who wish to attend and I don’t mean that I expect a grandstanding performance from each of them.

“It is more of a listening exercise from political parties because we need to hear the voice of retail, the voice of trade, of commerce of the construction sector, education and all of these areas, north and south,” Prime Minister Kenny said.

The Irish foreign minister, Charlie Flanagan wrote recently in a Guardian article that “Brexit has been referred to as the biggest foreign policy issue facing the UK since EEC accession in 1973. In many ways, the same is true of Ireland.”

Northern Ireland’s deputy first minister Martin McGuinness said that Brexit had terrible consequences for Northern Ireland as well. He said, “As things sit at the moment we are going to suffer big time. Theresa May says ‘Brexit means Brexit’, but so far as we are concerned Brexit means disaster for the people of Ireland.”

Another Irish leader John Bruton said he was deeply worried that centuries of trade between Britain and Ireland was being disrupted because of Brexit. He said, “We have been part of a common economic area for a very, very long time, only broken in the 18th century when Britain adopted anti-Irish trade practices and there was an episode in the 1930s. The decision to leave is reversing 1,000 years of history between Britain and Ireland.”

“If Britain avails of its exit from the single market to reintroduce subsidies to British food production, as was the case before the common market, this would cause serious damage to the Irish food industry and would probably necessitate retaliation by Europe. Anti-dumping measures are part of the armoury of the EU and they have been used before and could be again,” Mr. Bruton added.

John McGrane, who is the director general of the British Irish Chamber of Commerce said, “There isn’t anybody in Ireland that has not been touched in some way by this. If you’re not an exporter, then you’re likely to be a supplier to an exporter. The effect of the currency slump is very serious.”

Mr. McGrane added that he expected serious job losses on both sides of the Irish border because of Brexit.

Author: Raghav Hegde – India

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