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No deal preparations step up again this week

Written by Robert McHugh, on 8th Jul 2019. Posted in Ireland

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Tánaiste Simon Coveney has today laid out the Irish government position in an opinion piece in the Irish Times. In it, he repeats the Irish government’s long-held position on the reasons for the inclusion of the backstop in the Withdrawal Agreement.

In the article, Coveney says that the Withdrawal Agreement is closed and will not be reopened to facilitate the demands of the new PM, whoever that may be.

To highlight the seriousness of the government, the Tánaiste will publish an update on its Contingency Action Plan for Brexit this week. This builds upon the preparations of last December and the passing of the Brexit Omnibus Bill in March ahead of the original deadline, laying out the provisions needed in each sector to deal with the fall-out.

According to Goodbody Stockbrokers, "There has speculation recently that pressure would mount on the Irish government to back down on its position on the backstop in a bid to find a compromise with the new PM. There are no signs to date that this pressure is forthcoming, either domestically here in Ireland or from the EU. Given the amount of political capital that the Irish government has invested in this position, it is difficult to see how they could back down at this point."

They added, "It is betting that the House of Commons will move to block a no-deal outcome. In that strategy, it may be correct, but it is high risk." 

Source: www.businessworld.ie

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