Ireland to receive €1 billion from EU's Brexit Adjustment Reserve
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The Irish Government has announced that €1 billion is to be handed over from the European Union coffers to Dublin in the wake of Brexit. Under the EU’s Brexit Adjustment Reserve Ireland is due to receive a hefty sum in order to support the Irish economy from the shock of the UK’s departure from the bloc. Britain is a key trade partner for the Republic of Ireland while trade on the island has been disrupted by the controversial Northern Ireland protocol agreed between London and Brussels.
Minister Michael McGrath told members of the Irish parliament, the Dáil: “The lifetime of this parliament Ceann Comhairle [Mr Speaker] will see Ireland mark 50 years of membership of the European Union.
“Our membership has played an important role in Ireland’s social, economic, and political development in the intervening five decades.
“Throughout that period we have benefited from the solidarity that comes through EU membership.
“This solidarity has never been more evident than in the Brexit negotiations.”
He went on to announce that Ireland is to receive €1 billion from EU’s Brexit Adjustment Reserve
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