Now that the British people have voted to leave the EU, it is important that the Irish business community acknowledge the new reality.
Ibec boldly supported a vote to remain, as we believed that this would be the best outcome for European, British and Irish business. While Brexit is clearly a negative event for the Irish economy and a significant blow to the EU, Ireland will remain one of the EU's strongest growing economies over the coming years.
In a statement issued to both domestic and international media this morning, I emphasised the critical need for the current acrimony to give way to pragmatism and that a speedy, mutually beneficial arrangement between the EU and UK is reached. The range of competing interests and concerns make this a difficult task but these challenges must be overcome. It is important that Ireland plays a central role in the exit negotiations as we will be impacted more than other countries by the UK's decision to leave. Ireland's unique economic concerns need to be heard and entirely understood, and our interests fully safeguarded in any final agreement. The Irish Government, EU institutions and central banks must to do all within their power and remit to minimise financial, economic and political instability.
Whatever the outcome of the negotiations, yesterday's referendum will fundamentally change our relationship with our nearest neighbour and most important trading partner. As Ireland's largest business group, Ibec will work to ensure the interests of our members are safeguarded in UK exit negotiations. Nationally, through our office in Brussels and our close links with European business and the EU institutions, and via our close ties with UK businesses and the CBI in London, we will work to minimise disruption and safeguard Ireland's competitive advantage.
You can view Ibec analysis on the implications of a Brexit here: www.ibec.ie/brexit
If you have any comments or queries let me know. It's always great to hear from you.
Friday, 24 June 2016