New reports warns the impact of Brexit on Ireland

Two new reports have warned about the impact Brexit could have on Ireland.

The National Competitiveness Council has said that while our overall economic outlook is positive, the economy faces significant downside threats.

It has said that factors include the UK leaving the EU, a potential shift in trade and taxation policy in the US, and the uncertain nature of global growth.

New reports warns the impact of Brexit on Ireland

Meanwhile a British think-tank has warned of widespread and damaging consequences if there is no agreement on a Brexit trade deal.

It has said that there would be "serious political and economic implications" for Northern Ireland and create a "legal limbo" for millions of EU citizens in the UK.

It is thought we will get an update on how Brexit talks are going later as a second round of negotiations in Brussels draw to a close.

So far, the Northern Ireland border, citizens' rights and the so-called "divorce bill" have been the focus.

Sky's senior political correspondent Beth Rigby has said both sides will be hoping for a breakthrough.

"We can't move on to any substantive discussions about future trade talks and what the future realtionship between the EU and the UK will look like until they sort out these three areas," she said.

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