The vote by the British electorate to leave the European Union has sent economic shock-waves around the world. Countries within the Union are more seriously concerned — especially our own. Ireland relies heavily on exports and any tremors in our market countries affect us greatly. The UK is our biggest purchaser of goods, especially agricultural produce. They are now in a situation where they are not subject to common market rules and can purchase their goods wherever possible. It is imperative for Ireland that the EU strikes a trade deal with the UK as soon as possible.
On the positive side, this result may increase foreign direct investment into Ireland much of which in the past would have gone to the UK.
There are many reasons why people vote in a particular way: it could be based on mature, responsible thinking; or being completely influenced by others — especially the media; or vindictiveness by people who feel marginalized and are very anti-establishment.
Let us hope that the doomsday scenario can be avoided.
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