Warning of major job losses across Ireland if UK crashes out of EU

epa02840932 (FILE) A file photo dated 10 May 2007 shows pedestrians walking past the Bank of Ireland in Dublin, Ireland. A group of investors is to buy 37 per cent of shares in Bank of Ireland for 1.2 billion euros (1.7 billion dollars) from the Irish government, Finance Minister Michael Noonan said 25 July 2011. The deal means that private investors will own at least 68 per cent of shares in the bank, the minister said. It showed investorsâ?? confidence in the credibility of bank stress tests earlier this year, Noonan added. EPA/ANDY RAIN *** Local Caption *** 00000402454640

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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.


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