Billions the UK owes EU a ‘bear trap’ for Ireland

The tens of billions of euro the UK owes the EU is a huge “bear trap” for a successful trade negotiation that will be good for Ireland, one of the country’s leading experts on Brexit has warned.

Associate research professor at the Economic and Social Research Institute, Edgar Morgenroth, said the UK owes many billions to the EU institutions, including a bill to cover the pension contributions for EU civil servants, and it would be difficult to see how a “eurosceptic” UK parliament would endorse sending a large cheque to Brussels.

By not sending the money, bitter trade talks would be the likely outcome which would lead to a trade deal between the EU and the UK that was not in Irish interests, Mr Morgenroth told the Irish Examiner.