Minister predicts crash out Brexit will lead to Irish economic shock

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The UK will leave the European Union in October without a divorce deal causing a severe economic shock that could leave countries such as Ireland requiring EU financial support, Minister of State Michael D’Arcy has predicted.

He said the European Union has moved the Brexit date on a number of occasions and he did not see any more flexibility being offered. 

“The deal will be done after the 31st of October,” he said, referring to an agreement on the UK’s departure from the European Union. 

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“Some people in the UK have convinced themselves that no-deal is a good thing and that there are no circumstances that the European Union would allow the UK to crash out,” the Minister of State at the Department of Finance told Reuters.

British prime minister Boris Johnson has said he will take the UK out of the bloc on October 31st come what may, even without a transitional deal needed to pave the way for future relations with the EU.

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Taking the UK out without a deal means there would be no formal arrangements to cover everything from post-Brexit pet passports to customs procedures on the Irish Border. 

Any reworking of a deal to meet Mr Johnson’s demands would require Irish support. While the Taoiseach Leo Varadkar said on Tuesday that he believed a no-deal outcome was still avoidable, Mr D’Arcy struck a more sceptical tone, warning that a no-deal departure was very likely.

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Minister predicts crash out Brexit will lead to Irish economic shock

The UK will leave the European Union in October without a divorce deal causing a severe economic shock that could leave countries such as Ireland requiring EU financial support, Minister of State Michael D’Arcy has predicted. He said the European Union has moved the Brexit date on a number of occasions and he did not see any more flexibility being offered.

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