The EU's Competition Commissioner has said if new problems arise in the event of a hard Brexit, the EU collectively will have to find common solutions to them. 

Margrethe Vestager was speaking to RTÉ News at Trinity College Dublin where she was awarded a Gold Medal by the university's Historical Society.

Commissioner Vestager said all members states are "in this together" and have negotiated on this basis.

"We will have responsibilities to assume if there is a no deal Brexit because we will of course protect the integrity of the single market, but we will do that together - the Irish and the rest of the European Union," she said.

The Commissioner said the ongoing uncertainty means everyone is wondering what will happen if the UK crashes out of the EU on March 29 without a deal.

But she added that this does not change the fact that all member states have come this far together, through an informed and transparent process, because they share the value of common responsibility.

She added that if new problems arise, they will have to find common solutions. 

On the issue of relaxation of EU rules on state aid to help large Irish companies badly hit by Brexit, the Commissioner said the Commission has been working very closely with the Government to enable the setting up of schemes to use the full flexibility within the rules.  

"We are very impressed by the work done by the Irish government, the sort of 'no-nonsense', 'we'll deal with this' approach," she said.

She added that the EU will be on the alert to act on an urgent basis if big companies are in some kind of distress as a result of a Brexit blow.

Asked about the EU's investigations in corporate tax rates paid by large multinationals, Ms Vestager said the issue is not about Ireland, but is about ensuring no business should have an advantage in a member state that is not there for every other company in that member state.

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She said the Commission is looking all over Europe to see if things are as they should be, but its priority is to deal with cases it has already opened, such as Ikea and Nike. 

Ms Vestager declined to comment on reports that her office is currently assessing whether or not to open a formal investigation into Facebook's tax affairs.

She said when it comes to taxation of companies trading in the digital sphere in Europe there is not a level playing field as technology firms pay around 9% tax, where as other companies pay up to 23%. 

This is why so many member states say if we cannot find a European solution to this we will do it on our own, she added. 

But this fragments Europe, she claimed, and this is why an EU wide digital tax is a priority for the Commission. 

With her term of office as Commissioner due to end later this year, Ms Vestager said she has told her own government in Denmark that she would very much like a second term in her current Competition brief.

"I think we are in the middle of something," she said.

Asked whether she might run for the Commission Presidency, Ms Vestager said," I set my eyes on competition because I hope that I am serving Europeans and that is what I want."