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EU-UK Divorce Bill Debate A Minor Distraction, Says Ibec

Published on May 3 2017 11:13 AM

EU-UK Divorce Bill Debate A Minor Distraction, Says Ibec

Ibec said that the new EU-UK divorce bill debate is a minor distraction in economic terms compared to what ultimately is at stake, in a statement it issued today (2 May.)

It also outlined that the EU Brexit negotiating guidelines 'reinforce the need for an early agreement on UK exit terms to allow substantial trade talks begin.'

The group that represents Irish business welcomed the significant achievement 'in the explicit recognition of the unique risks' that Brexit poses to Ireland.

Danny McCoy, CEO, Ibec said: "Rapid progress needs to be made on exit arrangements, so meaningful trade talks can begin. The EU guidelines clearly provide scope for trade negotiations to start long before a UK exit, but even if that happens, comprehensive transitional arrangements will be needed."

It also advised that uncertainty still surrounds business.

"Brexit has created great uncertainty for business. An assertive national effort is needed to avoid the very real risk of a divisive, damaging Brexit divorce, and the UK crashing out of the EU without a trade deal or transitional arrangements," said Mr McCoy.

© 2017 - Checkout Magazine by Donna Ahern

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