Fiona O'Loughlin (Kildare South, Fianna Fail) | Oireachtas source

It is fair to say that the only certainty to emerge from last Thursday's Brexit vote is that there will now be a period of prolonged uncertainty. Whether we like it, we in Ireland are caught in the middle of the uncertainty. The political turmoil in the UK is contributing to the economic fallout from its decision to vote to leave the European Union. The impact of the Brexit vote on our economy will take some time to become clear, but it is very hard to see anything other than it having a very negative impact over the short and medium term.

The outcome of the referendum is very disappointing, but we have to respect the views of voters. We still have the right to say that we regard the outcome as a bad result for Ireland, the United Kingdom and the European Union as a whole. Fianna Fáil is very clear that while the outcome of this referendum will have far-reaching and wide-ranging implications for Ireland, it does not and should not change our relationship with European Union. We will not support any move to follow the lead of the UK and leave the European Union, and will instead work from within to reform the EU and rebuild European solidarity and cohesion. On Monday, sterling fell to a 31 year low against the dollar.

A very worrying aspect has crept into behaviour in parts of the UK. In the past few days despicable graffiti was daubed on a Polish community centre and verbal abuse was hurled at individuals because they were members of ethnic minorities. We cannot and will not stand for hate crime or these kinds of attacks. They must be stamped out.

What does this mean for Ireland? We are in uncharted territory. Ireland and Britain have enjoyed a special relationship for many years. The common travel area has been in existence since the 1920s. The Irish and British Governments have agreed reciprocal visa arrangements, including passport-free travel, measures to increase the security of the external common travel area border and to share immigration data between the two countries' immigration authorities. We need to be cognisant of how this special relationship will change as a result of the referendum outcome and must do all we can to try to preserve the common travel area as any change will have significant effects on the labour market, trade, exports and tourism.

In addition, while the vote to remain won in Northern Ireland, the overall result means that the issue of a Border re-emerging between North and South is now a real and live issue. A recently published report by the House of Commons Northern Ireland Affairs Committee noted that there are nearly 300 formal crossing points between the Republic of Ireland and Northern Ireland, as well as many informal crossings. This indicates the scale and complexity of the issues before us.

Northern Ireland will now share a land border with an EU member country, which will undoubtedly bring its own difficulties. We need to avoid knee-jerk reactions and work constructively with the European Union and the United Kingdom to come to some sensible arrangement that will minimise, as much as possible, the re-emergence of a hard border which would be a regressive step on many levels.

There is a real concern among pensioners living in Ireland, in particular those in receipt of English pensions, as to whether they will continue to be paid and about the fall in the rate of sterling. People on a fixed income who depend on these pensions do not need the added strain of this uncertainty. I acknowledge the comments of the Minister, Deputy Varadkar, that he will make a particular effort to ensure cross-Border workers and pensioners retain all of the rights they currently have.

The Irish Tourist Industry Confederation said it was as yet unclear what the Brexit vote means for the industry here. However, uncertainty is certainly not good for business. Britain remains the largest source market for inbound visitors to Ireland. According to the CSO, 3.55 million visitors came to Ireland in 2015, a market value of approximately €995 million for the Irish economy. The fall in sterling and potential weaknesses in the UK economy mean that Ireland's competitiveness is more vital than ever. In my constituency, Kildare South, the agriculture and equine industries have a significant relationship with Britain. Irish agribusiness is now bracing itself for the outcome of the Brexit result as the UK remains its prime market outlet. Primary trade between North and South and EU and non-EU approved ingredients and how they would be labelled and marketed are also of real concern to Irish farmers.

Some 50% of Ireland's total beef exports go to the UK and are worth €2 billion, followed by one third of our total dairy exports which are worth €1 billion. With the UK leaving the EU, a drop in Irish exports of between €150 million and €800 million can be expected. We have to ensure this does not happen. We need a calm, stable and measured approach.

Our main focus should be on doing all that we can to protect Ireland's interests and ensure we are shielded as much as possible from the negative consequences of a European Union without the United Kingdom. We should also look at opportunities that might be presented to us. I met people just now who have been living in China and who have just moved back to Ireland and they spoke about the potential for a very positive relationship with China. That is something we should consider. In Kildare we have Kildare Village, which is very popular with Chinese people who come to Europe and visit Kildare to do their shopping there. While this is a crisis, there are opportunities we must consider as well.

See this speech in context