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Brexit deal is the 'best news for Ireland in 100 years' claims leading economist

On Christmas Eve Irish economist Mr McWilliams tweeted: "Tonight’s Brexit deal is the best news for Ireland in 100 years, couldn’t have worked out

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On Christmas Eve Irish economist Mr McWilliams tweeted: “Tonight’s Brexit deal is the best news for Ireland in 100 years, couldn’t have worked out better for us!” The Irish Times journalist added that Brexit is “game, set and match to Ireland”. However, one of his Twitter followers reminded the economist to “tell that to our fishermen and hauliers”.

Currently, fishermen in County Donegal are preparing to sue the EU over the current Brexit deal.

The Killybegs Fishermen’s Organisation (KFO) announced the Brexit agreement showed how Irish “fisheries stand to lose out dramatically”.

The KFO’s chief executive, Seán O’Donoghue, said: “In spite of a seismic effort to redress the imbalance of the proposed deal in recent days, not enough has changed and our highly-developed mackerel fishery stands to lose out dramatically.”

On his blog, the author of 2005’s The Pope’s Children spoke of how Brexit was “a golden opportunity for Ireland”.

He said that when the UK leaves the EU, “the Republic of Ireland will be the one common-law, American-friendly, trading entrepot with full access to the 500 million markets of the EU.”

He added: “Taken together, the vaccine, the low-interest rates and the madness of King Boris provide a golden opportunity for Ireland.

“We must grasp it.”

The author spoke on his influential David McWilliam’s podcast on how the current deal between the UK and the EU would result in Northern Ireland being absorbed by the Republic of Ireland and lead to Scottish Independence.

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However, a Twitter follower of Mr McWilliams attempted to dampen the economist’s enthusiasm by predicting Scottish nationalism would be detrimental for the economy of the Republic of Ireland.

They tweeted: “The biggest threat to Ireland (Republic) from Brexit is Scottish Independence.

“If Scotland votes to leave the UK, and joins the EU, a lot of firms here will relocate there with access to the EU and land border with England.

“Scottish independence could send Eire’s economy back to the 1950’s.”

Speaking about how Brexit will reawaken soverignty issues in Northern Ireland, Professor Colin Harvey, from the School of Law at Queen’s University Belfast said: “Brexit transforms the unity conversation.

“This is now our way back to the EU‎, and that brings a radically new dimension to the discussion.

“Rather than run away from this, I think both governments should embrace it.

“‎It is a long-overdue opportunity for a serious and informed conversation about how we share this island for the next 100 years.”

Mr McWilliams on his podcast then described what he felt was a precarious future for the UK’s currency in 2021.

The traditional view of a bank is that they can only lend to the limit of what they have in their savings.

However, Mr McWilliam’s said that now banks create the loans by themselves by printing the money.

The economist then went on to explain that there is no limit to the amount of money a commercial bank can print.

He added that this is why the “money system is out of control”.



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