Ibec, the group that represents Irish business, has welcomed the momentum towards the draft EU-UK Brexit withdrawal agreement and is keenly awaiting further details of the text. The group acknowledged however that significant ratification hurdles remain.
Ibec CEO Danny McCoy said: “Business needs urgent clarity on the terms of the UK’s exit. A ‘no deal’ cliff edge must be avoided. A draft withdrawal agreement moves the debate on and, if ratified, will lead to an orderly Brexit with a transition period. An agreement that potentially keeps all of the UK aligned to the EU customs union will help minimise disruption to business. However, big political hurdles remain. Any political problems that emerge around ratification will heighten economic uncertainty and force more businesses to activate ‘no deal’ contingency plans.”