Hard Brexit ‘could damage economy as much as financial crash’

Copenhagen Economics study finds Irish economy could reduce by up to 7% by 2030

The best outcome from Ireland’s perspective would be the EEA option, where Britain enjoys access to the single market. Photograph: Stephanie LeCoq/EPA

The best outcome from Ireland’s perspective would be the EEA option, where Britain enjoys access to the single market. Photograph: Stephanie LeCoq/EPA

The UK’s departure from the European Union could cause almost as much damage to the Irish economy as the financial crisis of 2008-2009, but over a longer period, an expert report has found.

Brexit will reduce the size of the Irish economy in 2030 by between 2.8 and 7 per cent, depending on the type of Brexit that eventually emerges, an expert study for the Government has found.

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