Uncharted waters: What would Brexit mean for the Irish ocean economy?
The UK will hold a referendum on EU membership on the 23rd of June. If the UK votes to leave the EU (Brexit), the resulting changed relationship between the UK and the EU could have potentially far-reaching consequences for Ireland’s ocean economy. If the UK votes to exit, the UK then has two years in which to negotiate a withdrawal agreement, although this period could be extended by the unanimous agreement of the European Council. The terms of the withdrawal agreement are still very unclear and therefore speculating on the impact on the Irish ocean economy is difficult. Of the factors that might impact, the UK’s future trading relationship with the remaining EU members, and in particular Ireland, is the most important. While the broad contours of the risks and opportunities are foreseeable, in the event of an actual exit there will be need for detailed research to underpin an adequate strategic response for the sector.