Warning of major job losses across Ireland if UK crashes out of EU
The Irish Central Bank has issued stark warnings and significant job losses in Ireland in the event of a no-deal Brexit.
A disorderly Brexit will send shocks to the exchange rate, trade, consumption and investment, leading to a major deterioration in economic conditions, it warned.
In its latest quarterly bulletin, the bank forecasts 73,000 fewer jobs in Ireland over the next two years.
For the first time the Central Bank has published two forecasts for the Irish economy because of the “extraordinary and unprecedented nature” of Brexit.
The Bulletin has reported that in the event of a Brexit deal, GDP growth is forecast to be 5% in 2019, 4.3% in 2020 and 3.9% in 2021.