Irish leaders have warned of an economic “disaster” on both sides of the border without decisive action to confront the effects of Britain’s impending departure from the EU. Amid warnings of “incalculable consequences” for the Irish Republic and Northern Ireland as the Brexit process unfolds, Ireland’s prime minister Enda Kenny will convene an unprecedented cross-border summit of political leaders to consider what steps to take. The slump of sterling is squeezing Irish exporters and the future of Northern Ireland, which relies heavily on EU subsidies, is uncertain. Kenny told the Irish Times that he would summon all political players to an unprecedented All Island Civic Dialogue on 2 November. The effect of the currency slump is very serious,” said John McGrane, director general of the British Irish Chamber of Commerce.

Source: The Guardian October 16, 2016 17:00 UTC