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Ireland Will Pay The Most For Brexit Without A Trade Agreement

The finals without an agreement after five years of Brexit drama will hit producers, retailers, farmers and almost every sector of the economy, at a time when the negative impact of the new coronavirus pandemic is increasing.At the same time, Ireland would be the region that loses the most from the eurozone.

Ireland Will Pay The Most For Brexit Without A Trade Agreement
Yazar: Tom Roberts

Yayınlanma: 23 Ekim 2020 20:59

Güncellenme: 22 Aralık 2024 07:03

Ireland Will Pay The Most For Brexit Without A Trade Agreement

Britain and the European Union (EU) intensified negotiations on mutual relations after Brexit, as the time for an agreement is rapidly running out. Both sides are under a lot of pressure to reach an agreement that would save them billions.

Brexit without agreement

The finals without an agreement after five years of Brexit drama will hit producers, retailers, farmers and almost every sector of the economy, at a time when the negative impact of the new coronavirus pandemic is increasing. At the same time, Ireland would be the region that loses the most from the eurozone. This was said by the Governor of the Central Bank of Ireland, Gabriel Makhlouf, according to which, if the pandemic of the new coronavirus is also taken into account, Ireland will suffer a double blow. As Makhlouf said in an interview with The Financial Times, if Britain leaves the EU without a trade agreement, new tariffs on goods will hit Irish farmers and the food sector hardest. He expects such a development to cut Ireland's next year's gross domestic product (GDP) by around 2 percentage points. Britain accounts for about ten percent of Irish exports. In the case of agro-products and food sector products, the share is up to 38%, and even more so in the case of beef exports.
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