EU agrees no-deal Brexit compensation for Irish farmers: report By Reuters

0
57
U.S. municipal bond market struggles to find footing


EU agrees no-deal Brexit compensation for Irish farmers: report

TedsWoodworking Plans and Projects

DUBLIN (Reuters) – The European Commission has agreed to compensate Irish farmers for a collapse in market value in the event of a no-deal Brexit, the Irish edition of the Sunday Times newspaper said, quoting Irish government and EU sources.

Farmers would be in line for hundreds of millions of euros in emergency aid to offset a collapse in beef and dairy prices, the newspaper reported, the amount Agriculture Minister Michael Creed said last month Dublin would seek for its farming and fishing industry.

The details of the scheme were finalised between Creed and the commission’s agriculture chief Phil Hogan, the report said.

The move, similar to measures taken when Russia banned EU farm produce, could also apply to Dutch and Belgian flower producers and Danish dairy and bacon farmers, all of whom export heavily to Britain, the newspaper said.

Irish Prime Minister Leo Varadkar said this week he had alerted the commission that Dublin would seek aid for firms if Britain leaves the European Union without a deal next month, alongside other potential emergency EU and domestic funding.

With close trading links with Britain, especially in labor intensive sectors like agri-food, Ireland’s export-led economy is considered the most vulnerable of the remaining 27 European Union members to a disruptive exit by its neighbor.

A spokesman for the Ireland’s Agriculture Department could not immediately be reached for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here