Irish Finance Ministry Says Fiscal Measures To Soften Potential No-Deal Brexit Blow Taken

A no-deal Brexit would be the worst possible scenario for the Republic of Ireland, but proper fiscal policies are in place to mitigate the potential negative effect, a spokesman of the Department of Finance of the Republic of Ireland told Sputnik on Wednesday

DAVOS (UrduPoint News / Sputnik - 23rd January, 2019) A no-deal Brexit would be the worst possible scenario for the Republic of Ireland, but proper fiscal policies are in place to mitigate the potential negative effect, a spokesman of the Department of Finance of the Republic of Ireland told Sputnik on Wednesday.

"A no deal Brexit is the worst possible outcome and would not be in the interests of the UK, Ireland or the EU. Ireland stands to be most impacted by Brexit among EU Member States given our close trading, economic and political ties to Britain. However, we remain confident that our economy is resilient and that appropriate fiscal policies are in place.

This will help us to adjust to the economic effects of Brexit," the spokesman said.

He stressed that Dublin's "key protection" would be its membership of the European Union "with all the stability and solidarity that brings, including our unfettered access to a single market of over 450 million people."

The spokesman added that the Republic of Ireland had published a Contingency Action Plan expanding on its strategy for a no-deal scenario on December 19.