Yahoo Finance Irish finance minister: ‘There is no such thing as a managed no-deal Brexit’
Irish finance minister Paschal Donohoe said on Tuesday that there was “no such thing” as a “managed no-deal Brexit”.
“It is important,” Donohoe said, “not to pretend that there can be what some in the UK are calling, a managed no-deal.”
Brexiteers in recent weeks have suggested that, if the UK was to leave the EU without signing a deal, the country could negotiate specific sectoral deals to soften the impact, terming this a “managed no-deal.”
The EU has already indicated that it would be willing to take action to reduce disruption in the aviation and financial sectors. But it has also long insisted that it will not sign any smaller deals with the UK, and that any measures it takes will be to benefit the bloc’s own citizens.
Speaking about the possibility of a managed no-deal Brexit to an Irish parliamentary committee, Donohoe said that “no such thing exists.”
“From the EU perspective, we need to be very careful not to put at risk the benefits of the withdrawal agreement and, in particular, the transitional arrangements and the backstop,” he said.
Donohoe reiterated that the signing of the already agreed withdrawal agreement with the UK was the only way to ensure an “orderly” Brexit.
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“But we must also continue to implement our preparations for a no-deal scenario,” he said.
He noted, however, that it would not be possible to eliminate the risks involved in this.
“Any Brexit will be negative, and a no-deal most of all. Not all issues are within Ireland’s direct control. This is not to avoid responsibility, but to be frank and open. This is about damage limitation.”
Responding to a question about the possibility of a hard border on the island of Ireland in a no-deal scenario, Donohoe said that the Irish government would “not be involved in any procedure that will see checks on the border.”
