Irish PM committed to open border even in no-deal Brexit
The Irish prime minister made it clear he is not prepping for a hard border with the UK, ignoring EU warnings that additional checks on goods are essential in the event of a no-deal Brexit.
Irish prime minister Leo Varadkar reiterated that he has no contingency plan for a hard border with the UK at a pre-Christmas press conference on Thursday.
Despite the EU warning the Irish prime minister that, should the UK bail out of the bloc without a deal, additional checks on goods and livestock is necessary, Varadkar made it clear that he is committed to maintaining an open border with Britain even in a no-deal scenario.
‘Real difficulties’ lie ahead
During the press conference on Thursday, Varadkar said that there were ‘real difficulties’ ahead for the UK and the Republic of Ireland if Theresa May is unable to gain support for her deal.
‘If the UK crashed out of the EU at the end of March, they would still be aligned on customs and regulations,’ Varadkar said. ‘So the problem would only arise if they decided in some way to change their customs and regulations. That’s where it could get difficult.’
‘There is a real understanding across the EU that this isn’t a typical border, that this is a border that goes through villages, that goes through farms that goes through businesses,’ he added. ‘And of course, it’s a border that people fought and killed other people over as well.’
EU preps for No-deal Brexit
The lack of preparations being made by the Irish government fly in the face of the EU, which announced on Wednesday that it has begun to preparations for a no-deal Brexit after May continues to struggle to gain support for her withdrawal agreement.
The EU Commission revealed 14 measures across a limited number of areas where a no-deal scenario would create ‘major disruption’ for citizens and businesses in the EU27, including financial services, transport and climate policy.
The Commission said that it considers it ‘essential and urgent’ to adopt these measures to limit the most significant damage caused by a no-deal scenario in these areas.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets