No-Deal Brexit could cost Ireland 73,000 jobs; central bank says
A no-deal Brexit could cost Ireland more than 73,000 jobs over the next two years, the nation’s central bank said.
According to the bank’s speculations, if the U.K. were to leave the European Union without an agreement, Ireland’s unemployment rate would rise to 5.8% in 2020 and 6.9% in 2021. The forecast was released in its quarterly bulletin on Friday.
“In the event of a disorderly, no-deal Brexit, the key channels through which the economy will be affected will be through shocks to the exchange rate, trade, consumption, and investment leading to a marked deterioration in economic conditions,” according to the bank.