Effect of Hard Brexit to UK and Irish Economy. Research Paper

Research Paper Instructions:

This individual report will examine some comparative aspect of attitudes and policies within the societies of two different Member States or other pertinent European countries.
Topic: How border issue between the UK and Ireland is going to affect both short-term and long-term economy of the UK and Ireland If "no deal Brexit" happens.

Research Topic: How will No-deal Brexit affect relationships and economies of UK and Republic of Ireland, especially comes to border issues between Ireland and Northern Ireland. Source#1, Sep 25, 2019 Bergin, Adele. "Ireland and Brexit: modeling the impact of deal and no-deal scenarios." 2019, https://www(dot)esri(dot)ie/system/files/publications/QEC2019SPR_SA_Bergin.pdf Keyword: Brexit and Ireland, economy A report by Economic & Social Research Institute and the Department of Finance states that the “GDP in Ireland ten years after Brexit will be around 2.6% lower in a Deal scenario, 4.8% lower in a No-Deal scenario, and 5.0% lower in a Disorderly No-Deal scenario respectively, compared to a situation where the UK stays in the EU”. Source #2, Sep 25, 2019 "Brexit and Your Consumer Rights." CCPC Consumers, www(dot)ccpc(dot)ie/consumers/shopping/brexit/? gclid=CjwKCAjw2qHsBRAGEiwAMbPoDEuJLXLlaFzWf3u10H_gff_DwVUXjUlgUvaJVNL76v 6wATsSi47UORoCOkkQAvD_BwE&gclsrc=aw.ds. Keyword: Brexit, market, economy A series of consumers’ experience change for Irish consumers, including shopping, taxes, buying from UK retailers etc. organized by Irish Competition and Consumer Protection Commission. Source #3, Sep. 26, 2019 Doyle, John, and Eileen Connolly. "Brexit and the Northern Ireland Question." Oxford Scholarship Online, 2017. Keyword: Brexit, Ireland, Northern Ireland, border, peace process, trade, free movement, politics Brexit will potentially affect the Nothern Ireland “peace process” by setting a hard border between the UK and Republic of Ireland, violating “Good Friday Agreement” the causing conflicts between the UK and Ireland. Source #4, Sep. 26, 2019 "Ireland and UK: Right to Work Across Borders Will Continue Post-Brexit." SHRM, 16 August 2019, www(dot)shrm(dot)org/resourcesandtools/legal-and-compliance/employment-law/pages/ global- ireland-uk-work-post-brexit.aspx. Keyword: Border, UK, Ireland, labor A recent agreement between Ireland and the United Kingdom will allow citizens of both countries to live and work after Brexit under CTA Rights. Source #5, Sep. 26, 2019 Kevin Doyle and Cormac McQuinn. "Jean-Claude Juncker: Border is Coming in No-deal Brexit - but Blame Britain, Not EU." Independent.ie, 23 Sept. 2019, www(dot)independent(dot)ie/business/ brexit/jeanclaude-Juncker-border-is-coming-in-nodeal-brexit-but-blame-britain-not- eu-38523514.html. Keyword: No-deal Brexit, EU, Ireland EU Commission President Jean-Claude Juncker confirmed that borders and checks between the UK and Republic of Ireland must be implemented. “I’m not the architect of new Border stations. The British have to tell us exactly the architectural nature of this Border,” Mr Juncker said. Source #6, Sep. 26, 2019 "No-deal Brexit Will Have 'severe Impact' on Irish Economy, Central Bank Says." The Irish Times, 28 August 2019, www(dot)irishtimes(dot)com/business/economy/no-deal-brexit-will-have-severe- impact-on-irish-economy-central-bank-says-1.3999974. Keyword: Economy, Brexit, Irish economy Acting governor of the Central Bank of Ireland, Sharon Donnery, warned that there will be ‘severe impact’ on Irish Economy if No-deal Brexit actually happens. Source #7, Sep. 27, 2019 "What Would a No-deal Brexit Mean for the Biggest Sectors of the Irish Economy?" The Irish Times, 13 September 2019, www(dot)irishtimes(dot)com/business/economy/what-would-a-no-deal- brexit-mean-for-the-biggest-sectors-of-the-irish-economy-1.4016259. Keyword: Irish economy, No-deal Brexit Irish retail, exporter, aviation, energy, and medical will face huge influence if No-deal Brexit happens. Source #8, Sep. 27, 2019 Leddin, Ger, and Ger Leddin. “Five Ways Brexit Could Devastate the South of Ireland.” Ireland Before You Die, 23 Aug. 2018, http://www(dot)irelandbeforeyoudie(dot)com/five-ways-brexit- could-devastate-the-south-of-ireland/. Keyword: Irish economy, Brexit Brext is going to influence greatly on agriculture and food, the border, air travel, and other possible recessions.

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Effect of Hard Brexit to UK and Irish Economy
The European nation (EU) and Economy
The European nation (EU) is a political union of a total of 28 countries primarily in Europe. It is also an economic union that has so far developed an international single market by standardizing a system of law that all the member states apply. These laws must be agreed upon and voted by all members. One advantage of the EU to its members is that it allows free movement of goods, people, services, and capital within the international market. The EU has made a single market across its territory, and this has been great since, in the year 2017, the union recorded a GDP of $21 trillion. Out of 28-member states, 19 member states have joined a monetary union known as the Eurozone, with its member states being the second-largest wealthiest state in the world. Euro, which is the second-largest reserved currency after the US Dollar.
Ireland/UK Relation
The United Kingdom and the Republic of Ireland joined the European Union in January 1973. Through the sub-branch of the European Economic Community, they have successfully conducted their trade in a well-organized and friendly relationship. This was further strengthened by the Good Friday agreement in the year 1998 that resolved the long-time civil war and hatred between the two Ireland nations of Ireland.
Transportation of Ireland products to the rest of the EU nations that takes place through the land, UK plays a significant role in connecting Ireland to the rest of Europe free without charges. The trade tariff enjoyed as one of the privileges of being a Union member. Even trade between the two nations is made pleasingly without massive tariffs.
After Hard Brexit
With Hard Brexit, hard border seems so inevitable between the two Irish nations. This would end up severely dividing the island which is a violation and disrespect to the Good Friday Agreement of the year 1998. Thus, could result in a civil war. The only solution that might work is giving Northern Ireland a referendum to decide whether they want to secede the UK and become a united Ireland or remain in the UK and out of the EU.
According to Fraser of Allander Institute (IFA), the effect of hard Brexit to the republic of Ireland would be worse than the backstop. This is the last resort that could be used to prevent the No-deal Brexit on the Irish border when other solutions have failed. If Britain happens to quite the EU on hard Brexit, the Republic of Ireland as a 'remainder' and an EU member state would be confined to some EU trade rules. That would make it hard for them to make a trade deal with a free sovereign nation like Britain. This would subject goods and services coming through the border of Northern Ireland would be subjected to checks and tariffs. ("No-deal Brexit Will Have' severe Impact' on Irish Economy, Central Bank Says 2019").
Jobs and Employment/ CTA
Almost 6000 jobs have been lost in Ireland due to Brexit. With animals and numerous foodstuffs are the critical exports to the UK from Ireland, many businesses are being closed, and many people become jobless (Bergin 33). According to the IBEC group, about 570 million euros worth...

Updated on January 26, 2024

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Effect of Hard Brexit to UK and Irish Economy. Research Paper

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