EU's Michel proposes €5bn Brexit emergency fund that may help Ireland

The multi-billion-euro fund will help to "counter the unforeseen consequences" of Brexit

From left to right: Mr Charles MICHEL, President of the European Council; Ms Ursula VON DER LEYEN, President of the European Commission.Copyright: European UnionEvent: Press conference on the EU response to the coronavirus crisis

European Council President Charles Michel said on Friday that EU talks with Britain on their new relationship were “not easy” and countries, regions, and industries will face disruptions from 2021 whether there is a new pact or not.

Laying out his compromise proposal for a multi-billion-euro economic stimulus for the EU to recover from the coronavirus pandemic, Mr Michel said a new Brexit “adjustment reserve” of €5bn was also needed to “counter the unforeseen consequences” of Britain’s departure.