Irish MP – Ireland itself risked “nothing short of Armageddon” If there is no Brexit deal.

As Boris Johnson’s refusal to extend the Brexit transition period takes its toll on member-states, the EU are now panicking. This week during a debate in the Irish Parliament, MPs warned of an economic meltdown across the EU if Britain denied Brussels’ demands for an extension in light of the pandemic. One MP, Sean Haughey, stated Ireland itself risked “nothing short of Armageddon” if Britain left without a deal or even with a “bare-bones” deal.

The Irish MP said: “The most we can hope for in this time frame is a bare bones agreement. There would be no winners in that case.”We believe that an extension to the transition period is needed now, particularly in light of the COVID-19 pandemic, the subsequent delay in talks and fundamentally altered economic landscape.”

Following the second round of talks’ decision, Barnier contested whether a deal could be agreed in the time period permitted. In addition, he noted that the UK refused to engage on lots of issues. “It is imprudent and short-sighted of the UK to not look for an extension and every attempt must be made to reach a consensus between the UK and the EU.”  

Sean continued: “Our economy has been hit with a hammer blow in recent weeks thanks to the pandemic, and the prospect of a hard Brexit coming down the tracks is a very frightening prospect.”Even a basic free trade agreement would still imply significant higher trade friction than exists today. A transition to a UK-EU free trade deal would lower Irish growth by 3.5% in the long run.

“The COVID-19 pandemic would make these predictions even worse. GDP will fall by 10.5% this year and unemployment could reach 22%.”A hard Brexit would be nothing short of Armageddon for the thousands of businesses already on life support. “Therefore, Ireland must continue with contingency planning and seek EU support for vulnerable sectors.” 


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