By Kevin O’Neill and Pádraig Hoare
THE time between now and the exit of Britain from the European Union is crucial for Ireland to shore up the national interest economically — it must do all it can to limit the damage.
That is the verdict of Housing Minister Simon Coveney, as the fallout from the shock Brexit vote continued over the weekend.
Describing the result as “hugely disappointing”, Mr Coveney said: “When Britain decides to invoke Article 50, which triggers the exit process, then we will have a long negotiation of managing how that happens, and Ireland will face a challenge then of making sure that happens in a way that doesn’t damage Irish interests, or at least limits damage.”
He said that choosing one or the other wasn’t practical for Ireland, given our ties to both the UK and the EU. “From an Irish perspective, we do not have the luxury of choosing one over the other. We need to remain close and integrated, in many ways, with Britain, in terms of how business and trade operates, as well as social, personal and family connections that we have, particularly on this island. But we are also a very proud member of the European Union.
It has been good for Ireland, it has been good for Irish trade, and while a significant portion of trade for indigenous Irish companies is linked with Britain, a lot of others are trading further afield.”
He dismissed concerns about border issues between Northern Ireland and the Republic, but said the North’s status had changed. “If part of the island of Ireland is outside the European Union and the other part is inside, there are consequences. There is no point in pretending otherwise.”
Cork Chamber president, Barrie O’Connell, said the uncertainty was not good and that an orderly transition was needed. “The economic and political uncertainty resulting from the vote is not positive for business or growth, neither in Ireland nor in Britain, or the rest of Europe. The priority, now, arising from the outcome of the vote, is for all stakeholders to work to implement a legal and political framework for the UK to depart in a measured and organised way, with minimised disruption to trade,” he said.
“The UK will remain a key trading partner of Ireland, and Ireland remains fully committed to Europe and the single market. Clarity on Britain’s future relationship with the EU will take some time, and we encourage all members of Cork Chamber to assess the impact of Brexit on their business activities, and put in place strategies to mitigate risks identified, where appropriate.”
SIPTU has called on the Government to immediately begin negotiations with the UK to stabilise trade in manufactured goods.
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