The European Commission is preparing a huge package of assistance for Ireland in the amount of several billion pounds to compensate for economic damage amid no-deal Brexit, The TImes reported referring to the EU sources.
According to the newspaper, the EU is ready to “spend whatever was necessary” to help the Irish government deal with trade problems that may arise if the UK leaves the union without a deal with Brussels. The exact amount is not called.
The Irish government presented an updated version on July 9 of the action plan aimed at minimizing the negative effect of Brexit under various scenarios. The preamble of the document, in particular, states that exit without a deal will be an unprecedented event for Ireland, and will create enormous difficulties for the national economy, and provoke violations of the trade turnover between the northern and southern Ireland, as well as between Ireland and the UK. Brexit without a transaction will cost the country a budget of € 6.5 billion in the first year.
Brexit was scheduled on March 29, 2019 - two years after submitting a written notice of withdrawal. However, the deputies of the UK House of Commons rejected the draft agreement on Brexit terms, which Prime Minister Theresa May reached three times during talks with European leaders. Thus, the EU agreed to move Brexit first to April-May, and then to October 31.