Ibec has called the ‘leave’ result of the UK’s referendum on EU membership "a very significant blow to the EU, which will lead to a potentially protracted and unwelcome period of uncertainty and instability in Europe."
It says that the Irish Government, EU institutions and central banks must now do all they can to minimize financial, economic and political instability, and make sure that Irish interests are safeguarded in British EU exit negotiations.
Ibec CEO, Danny McCoy said, "Ireland will be impacted more than other countries by the UK's decision to Leave.
"It is vital we play a central role in exit negotiations. Our unique economic concerns need to be heard and fully understood, and our interests fully safeguarded in any final agreement."
He added that it is important that a speedy and mutually beneficial arrangement between the EU and the UK is now reached, noting that "The range of competing interests and concerns make this a difficult task.
"It is vital that these challenges are overcome and Ireland can play an important role."
Ibec says it will now work to make sure the interests of its members are safeguarded in the negotiations, and that through its office in Brussels, and via its ties to UK businesses, it will try to minimize disruption and safeguard Ireland’s competitive advantage.
"While Brexit is clearly a negative event for the Irish economy, Ireland will remain one of the EU's strongest growing economies over the coming years," McCoy concluded.
© 2016 - Checkout Magazine by Jenny Whelan