Business Irish

Thursday 29 September 2016

Forum says Brexit-facing Ireland should have loosened its EU ties

Published 19/05/2016 | 02:30

Mr Legrain said risks to Ireland from a Brexit include the impact on sterling, the disruption to trade and impact on Northern Ireland.
Mr Legrain said risks to Ireland from a Brexit include the impact on sterling, the disruption to trade and impact on Northern Ireland.

A think-tank has questioned why Ireland didn't follow Britain in securing an opt-out from the EU from the 'ever-closer union' clause.

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In its analysis of the implications of a so-called Brexit, the Hibernia Forum said it supports the UK remaining in the European Union, but said committing to an ever closer union means that member states have undertaken to potentially transfer their sovereignty to Brussels.

"We disagree with the blank cheque approach to future transfers of powers to the EU that the treaty commitment to 'ever closer union' represents", the analysis, by Hibernia Forum chairman Cormac Lucey, states.

"And we ask why, when Britain recently won an opt-out from the commitment to 'ever closer union', the Irish government didn't also seek this concession?"

However, it said that for the sake of Irish national and economic interests, the UK should not vote to leave the EU.

Meanwhile, Philippe Legrain, economist and former policy advisor to former European Commission President José Manual Barroso, will tell executives at a Brexit breakfast briefing organised by the Institute of Directors today in Dublin that the economic consequences of an exit for the UK would be far more severe than remaining within the EU.

Mr Legrain said risks to Ireland from a Brexit include the impact on sterling, the disruption to trade and impact on Northern Ireland.

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