The International Monetary Fund has warned that a “no deal” Brexit, which would mean the UK’ exit from the EU without an agreement with Brussels on multiple issues such as trade and the Irish border, would spread a contagion of economic pain The Guardian reported on Thursday as the British government scramble to avoid such a scenario.
The IMF also warned that the Republic of Ireland, would most painfully affected by a no deal divorce between Brussels and London RTE reported.
Almost 17% of Irish exports are to the UK and a break with the bloc without having agreed on trade restrictions would spell doom for the Irish economy, this is without considering the ramifications of a UK withdrawal from the common market without an agreement on the Irish border.