Ireland has avoided a cataclysmic economic disaster after a last-ditch trade deal on Brexit was done in the dying hours of Christmas Eve.
Taoiseach Micheál Martin warmly welcomed the successful conclusion of negotiations, while opposition parties also gave the deal clinch a warm welcome.
And the new trade agreement has cancelled any fears over potentially catastrophic consequences for the border between North and South.
The last stumbling block was fisheries and a compromise that sees 25% of EU fishing quotas given up was eventually agreed.
It now paves the way for relatively hassle-free trade between Ireland and the UK in then coming years.
Mr Martin said: “I welcome the conclusion of negotiations between the EU and the UK today.
“I hope that this outcome will now be approved by both sides and that the necessary procedures to allow the agreement to enter force on 1 January will proceed smoothly.
“The Government will now consider the detail of the text very carefully.
“From what we have heard today, I believe that it represents a good compromise and a balanced outcome.
“It is more than four years since the UK decided to leave the EU in the 2016 referendum.
“The journey since then has been a long and difficult one.
“I have said many times, and will do so again today: though I respect it, I very much regret the decision.
“The UK was an important member of the European Union, and Ireland and the UK frequently worked closely together on many EU issues.
“However, as we now approach the end of the Transition Period, I wish the UK well in this new chapter in its history.
“The UK will always be a close friend and partner.
Tánaiste Leo Varadkar added: “Four years ago when the UK voted to leave, we feared that a ‘no deal’ could result in a hard border between North and South, an end to the Common Travel Area with Britain, that it could threaten the Good Friday Agreement, our position in the EU single market, disrupt aviation and haulage, and result in quotas and tariffs on our farmers, businesses and exporters.
“Years of hard work and diplomacy have protected Ireland from all of that.
“Thank you to our friends in Europe and our spectacular civil servants in Dublin and Brussels.
“We have the best deal possible after four years of tough negotiations. It builds on the Irish Protocol negotiated in The Wirral, which guarantees the Common Travel Area and no hard border in Ireland.
“It’s a sad but momentous day.”
And Sinn Féin leader Mary Lou McDonald said: “"Four and a half years ago the north of Ireland voted to remain, but despite the wishes of the people it now finds itself outside of the European Union as a result of a Tory inspired Brexit.
"There will be relief that a trade deal has now been agreed between Britain and the EU and special arrangements for Ireland encapsulated in the Irish Protocol, will be implemented.
