15th March 2017
The Brexit creates both opportunity and challenges for Ireland - Should we get Gibraltar to join us?
By Cianán Clancy
As the UK moves closer towards triggering article 50 and formally starting the process for a Brexit there is considerable disquiet among the European community. Brexit does not only pose questions on the future of the European Union itself but also puts millions of Britons living across the EU in an uncertain position.
There have also been many regional differences within the UK, e.g. Northern Ireland and Scotland has a whole voted against Brexit and so did the Overseas Territory of Gibraltar.
Gibraltar finds itself in a very strange position after the Brexit referendum. On one hand, the population is highly pro-Britain and on the other hand the economy is intrinsically linked to Europe and that’s not just the tourism industry, but critically the financial services, gambling and insurance companies which drive employment in Gibraltar and are highly reliant on the access to EU markets. While Gibraltar is not directly part of the EU Customs Union it has relied on the UK to go around this and access the multi billion Euro mainland Europe. On the other hand, in all this nationalist fervour surrounding Brexit, Spain again pressured the UK government to hand back sovereignty of Gibraltor or agree on joint-sovereignty, something Gibraltarians have successively and overwhelmingly rejected in 1967 and again in a 2002 referendum.
For Gibraltar to emerge from Brexit stronger and more robust it might need to do something radical. If a Spanish joint sovereignty is on the table, why not joint sovereignty with Ireland which can provide both economies with numerous travel advantages. For example, both Gibraltar and Ireland’s economies are highly aligned in areas such Tourism, Gambling and Financial services. With Ireland’s own Common Travel Area with the UK, Gibraltar will have easy access to the UK and the EU. Unlike other British Overseas Territories such as Falkland islands, Gibraltar has a self-sufficient economy which does not rely on British aid or military expenditure.
Gibraltar has significantly shifted it’s economy from the 80’s into a thriving overseas territory with just 3% unemployment, a GDP per capita of nearly $71,000 and a GDP of $1.87 billion for a population of just 30,000.
For Gibraltar, a joint sovereignty with Ireland would provide continuous access to EU customs union and a market of over 500 million, while UK and Ireland’s Common Travel Area will mean that Gibraltarians will have easy access to the UK as well which would be a win win for both sides.
There are also many other similarities between both economies. American companies are increasingly using Ireland has a base for their European operations while Gibraltar is a global financial centre with the 5th highest number of banks per capita and second highest concentration of big four accounting firms per capita, next to only the British Virgin Islands.
Together, Gibraltar and Ireland have the potential to become the world’s foremost hubs of technology, financial services and gambling, possibly rivalling the likes of London or Hong Kong.
In these crazy times maybe we need crazy ideas!
The Brexit creates both opportunity and challenges for Ireland - Should we get Gibraltar to join us?
The article is written from the point of the person making the idea for gibraltar to join with the republic of ireland.
its a new idea which the post author is bringing up for the first time. could you rephrase the tenses etc
its meant more of a tonge and cheek type blog post.
The Brexit creates both opportunity and challenges for Ireland - Should we get Gibraltar to join us?
It solves their problems plus the republic of ireland gets a growing economy which mimics its own industries strengths in
internationally traded services financial services, insurance, gambling etc as well as being sunny!!!
The job is why Gibralatar a british enclave should join the Republic of Ireland when Britain leaves the EU.
Gibratar - British territory - not in eu customs union.
Main industry is financial services and gambling.
Hugely reliant on European Union access for these industries.
The Brexit has potentially but the region under threat as they need access to EU for gambling and financial service history.
The hard brexit stated by theresa may has but huge uncertainty in the region.
In addition Spain has continued pressure for Gibraltar to hand back sovereignty to Spain or do a deal for joint sovereignty.
The British citizens have stated they do not want to join Spain. The leaving of the EU could result in increase passport controls by Spain etc.
What other options does Gibraltar have?
What about joint sovereignty with the Republic of Ireland or ceding sovereignty to the Republic of Ireland.
The Republic of Ireland is an EU member which would allow Gibraltars access for their main industries financial services and gambling firms.
In addition the Republic of Ireland has a common travel area with the United Kingdom allowing free.
This would present an win win for the people of Gibraltar access to the EU as a member of the Irish Republic as well continued travel to
and from the United Kindgom as part of the Irish / UK Travel Common Area.
The EU border between Gibraltar and Spain would also be streamlined as it will continue to be an EU to EU border.