Brexit bedlam consolidates support for EU and euro in Republic

The Brexit turmoil appears to have consolidated Irish support for the European Union and the single currency. The latest Eurobarometer poll shows that an overwhelming 85 per cent of Irish people believe the single currency has been a good thing for the State, compared with a euro-zone average of 64 per cent.

A large majority (87 per cent) of Irish people also believe the shift to a single currency has been beneficial for the EU, compared with a euro-zone average of 74 per cent.

Introduced in 2002, the Republic was one of first states to join the currency union, which now includes 19 member states.

Most Irish people (86 per cent) also believe it has made travelling within the EU easier and less costly, while 62 per cent believe it has reduced banking charges when travelling in different EU countries.

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On whether economic policy, including budgetary policy, should be more co-ordinated across the bloc, only 47 per cent of Irish people favoured more co-ordination, while 17 per cent believed there should be less.

In contrast, in the euro zone as a whole, 69 per cent of people supported greater co-ordination and only 7 per cent favoured less.

Domestic reform

On the issue of domestic reform, the poll shows an overwhelming 97 per cent of Irish people believed the Government should introduce reforms in the health sector to boost growth and employment, compared with 92 per cent in the euro zone.

Similar strong majorities here supported introducing reforms to the education, pension, social security and taxation systems and the labour market.

In contrast to the UK, the Republic has always been one of the least Eurosceptic states in the EU and one of the most enthusiastic supporters of the euro.

A separate survey reveals that, despite the upheaval around Brexit, European businesses are optimistic about the year ahead, but less so than 12 months ago, while concerns about access to skilled workers have risen.

The findings, contained in the latest annual Eurochambres Economic Survey, support a range of surveys highlighting growing concern among employers about finding relevant staff.

Based on more than 45,000 responses from European entrepreneurs in 26 countries, the survey said the drop in business confidence can be attributed not only to skills shortages but also to lower growth rates and increasing geopolitical concerns, which unsurprisingly influence entrepreneurs’ perception of the business environment.