Friday 30 September 2016

Brexit would create trade instability, minister warns

Published 01/06/2016 | 02:30

Ireland could be hit by Britain’s difficulties in securing a good trade deal within a reasonable time frame if the UK opts to quit the EU. Bloomberg
Ireland could be hit by Britain’s difficulties in securing a good trade deal within a reasonable time frame if the UK opts to quit the EU. Bloomberg

Ireland could be hit by Britain's difficulties in securing a good trade deal within a reasonable timeframe if the UK opts to quit the EU, a minister has warned.

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Junior Finance Minister Eoghan Murphy said those advocating that Britain should quit the EU do not take account of the problems of agreeing a new relationship.

"We have reached a point in the EU where it is difficult to divorce politics from economics," Mr Murphy said in a podcast for Independent.ie.

He said if British voters opt to leave on June 23, there could be a chain reaction in other member states, and the risk of instability would mean remaining members could not easily make concessions to Britain.

Mr Murphy said he believed those urging Britain to remain in the EU currently had momentum. But he said the final three weeks of the campaign were crucial and it could yet go either way.

The minister's comments came as the Irish government increases its canvass of the 500,000 Irish in Britain, and the 230,000 UK citizens in the Republic who have a vote.

Mr Murphy said several Ministers will visit Britain and the North in the coming weeks making a measured intervention and urging Britain stay in the EU.

Irish Independent

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