Leaving the EU would be an "act of wanton destruction" for Northern Ireland
Peter Sutherland, former head of the World Trade Organisation, says the province would suffer
- A drying up of investment would lead to a crippling of the Irish economy, both north and south
- Northern Ireland secretary Villiers says Brexit would be "great for Northern Ireland"
Britain leaving the European Union after the June 23rd referendum would have a significantly negative impact on Northern Ireland's economy, according to Peter Sutherland, former head of the World Trade Organisation.
Sutherland gave a critical analysis od Leave campaigners' hopes for the future of Britain after a possibler Brexit. He said he believed that it would be an act of "wanton destruction" for the economic outlook of NI.
"Those who invest in Ireland, north or south, are doing so because it provides them with the manufacturing base to sell to the European Union," Mr Sutherland told the BBC's Sunday Politics show.
"It is, to me, incredible that any political force in Northern Ireland could conceivably consider it could be a good thing for Northern Ireland,"
"The uncertainty, the borders created by Britain leaving and the inevitable period of prolonged negotiation will lead to a drying up of investment.
Both north and south of the border, Ireland's reliance on trade with the United Kingdom makes it a huge part of their economy, and a Brexit could have serious consequences on their trade relationships.
"It is, to me, incredible that any political force in Northern Ireland could conceivably consider it could be a good thing for Northern Ireland," continued Sutherland.
However, Northern Ireland Secretary Theresa Villiers said a Brexit would be "great for Northern Ireland".
"It enables us to take back control of our own trade policies so that we can make deals not just with the European Union, but also with countries around the world where they have huge markets," she told Sunday Politics, "those could create jobs and opportunities for young people.
"There's no reason why we can't press ahead pretty rapidly with trade deals with the rest of the world. It is the EU that's failing economically, not us."
