TAOISEACH Leo Varadkar has named seven key risks facing ‘Irish life’ after the Brexit vote, a wave of terror attacks in Europe and worrying developments in climate change over the last year.
The Irish PM outlined the risks as part of Ireland’s National Risk Assessment 2017.
Unsurprisingly, Varadkar identifies Brexit as a significant risk and states that, "Brexit represents an overarching theme that could have far-reaching impacts on nearly all aspects of national life."
In the foreword for this year’s report, the Taoiseach warns Ireland is "particularly vulnerable to external developments".
The National Risk Assessment report for 2017, published yesterday, identifies these key risks to ‘Irish life’…
- Brexit and the changing distribution of global influence
- Terrorist incidents
- Loss of competitiveness
- A possible over-reliance on multinational corporations
- Failure to respond to demographic changes
- Climate change
- Data fraud/theft
Mr Varadkar says there are “critical risks” facing retail, tourism, agri-food, fishing and energy in Ireland following Britain’s decision to leave the European Union.
While he did not mention the election of Donald Trump as US President, Varadkar did suggest that the Irish Government should strengthen its ties to the White House.
"As the US is Ireland's second-largest trading partner, its second-largest export market and its largest source of foreign direct investment (FDI), enhancing the many strands of the economic relationship with the US is central to Ireland's continued prosperity,” the report said.
In regards to Ireland and the ongoing Brexit negotiations, the report lists a number of areas of concern for Ireland…
- Trade and the economy: Any new trade deal could include tariffs and non-tariff barriers which would increase the costs of doing business and reduce Irish competitiveness
- Peace process and Northern Ireland: The preservation of the Good Friday Agreement is a priority as well avoidance of a hard border. Either of these scenarios could have significant ramifications for the peace process and the social and economic well-being of Ireland
- Common Travel Area: Maintaining the Common Travel Area will require close work with the UK and understanding from EU partners.
- Influence the future of the EU: The report states that Ireland needs to remain vigilant and active in pursuing its interests as well as building new shared interests.
See More: Brexit, Featured, Leo Varadkar, Risks To Ireland
