Are we heading for an "Irexit"? German business leaders haven't ruled it out...

New report suggests that hard Brexit damage could turn Ireland anti-EU

Are we heading for an "Irexit"? German business leaders haven't ruled it out...

German Chancellor Angela Merkel, left, and Irish Prime Minister Enda Kenny leave a news conference after a meeting at the chancellery in Berlin, Germany, Tuesday, July 12, 2016. (AP Photo/Markus Schreiber)

German business leaders have warned that Brexit will cost Ireland jobs and growth, with particularly harsh terms potentially pushing the country towards the EU exit door as well.

According to the Irish Independent, the new report from the German Chambers of Commerce Worldwide and German-Irish Chamber of Industry and Commerce says that "Ireland will unduly suffer" in terms of growth and trade if our special circumstances are not recognised by the rest of the EU.

Following the UK referendum, German chancellor Angela Merkel essentially ruled out Ireland receiving any special treatment when it came to dealing with its neighbour across the Irish Sea. The fresh report is intended to inform both the German public and decision-makers of the damage that Brexit can do to Ireland, specifically in harming economic growth, trade and creating "significant" job losses. The FDI sector, agri-food and tourism would be badly affected, while Brexit could "seriously impinge" on Ireland's energy security.

The paper will be presented to Taoiseach Enda kenny tomorrow when he meets its authors, with journalists from Germany's leading media organisations and members of the German Parliament also set to receive it.

It reads:

"Ireland, as the EU member state most connected with Britain, will suffer most from the market volatility and unpredictability that Brexit brings in its wake."

"By imposing very harsh terms on Britain to discourage other member states from exiting the EU, the EU need to actively consider whether this will build momentum towards an 'Irexit', further undermining European cohesion."

On the issue of Northern Ireland, it states that Brexit "cannot be allowed to undermine cross-border cooperation, economic reconstruction and growing rapprochement after centuries of division on the island of Ireland."