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I would like to present an alternative view on the so called ‘Brexit’. I hear, as everyone does, how it would be awful for Ireland. I don’t think so. It might be awful for Britain if they don’t have a suitable exit strategy from the union, but really how awful for us?
To begin with, Ireland and Britain still have the Treaty of 1921 which established all trading arrangements and free movement between these islands and it’s still in force. It existed long before the EU did, even in its earliest forms.
We will still trade with Britain. If there are going to be customs the two governments will ensure it’s minor. Neither peoples will need a visa to visit the other’s country.
Britain might leave itself open to problems if Brexit becomes a reality, and a person with problems needs a friend in Europe, especially if they are out.
I suspect that large British firms would uproot world headquarters from London and re-register here, enjoying 12.5% tax and access to the EU markets.
‘The British Pound will collapse’ I’ve been told. I doubt that in the extreme. The Bank of England and the City of London will ensure that the pound sterling will closely track an understood value against the euro, as 50% of British jobs depend on those export markets.
Britain out of Europe will enjoy a similar relationship as Canada does with America. In the words of Franklin Delano Roosevelt ‘We have nothing to fear but fear itself’.
Damien Lynch MEconSc
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