The Irish Independent reported yesterday that the Irish finance minister has said the relationship between the UK and Ireland would "fundamentally change" in the event of a no-deal Brexit.

Paschal Donohoe was speaking at the Irish embassy in London after a meeting with Chancellor Sajid Javid about the UK Government's plans for exiting the EU.

According to the report, the finance minister said he believed "the prospect of a no-deal Brexit is growing". Asked when the Irish government will announce where checks on goods travelling between the Republic and Northern Ireland would take place in the event of a no-deal Brexit, Mr Donohoe said Dublin is "engaging with the European Commission" on the issue.

On the question of whether London would offer a financial package to the Irish government to help resolve any border issues, Mr Donohoe said he would "prefer not to go into the detail" of any financial discussions.

Speaking yesterday, Minister Donohoe said, "If the United Kingdom became a third country, it would have a fundamental effect on the nature of the economic relationship between the United Kingdom and Ireland because obviously, they would be outside the single market, they would be outside the customs unions and they would be treated like other countries that are outside of the European Union from a trading point of view. Were that to happen - which it would in the event of a no-deal Brexit - it would fundamentally change the relationship that is there."

Source: www.businessworld.ie