Tánaiste Leo Varadkar said he expects Britain and the European Union to clinch a tariff-free and quota-free trade deal, The Currency quoted him as saying in an interview published today.

"I still think there will be a deal. It will be no quotas, no tariffs, some form of minimum standards and control on state aid and fishing," Varadkar was quoted as saying. 

"I think that is still achievable", he added

Leo Varadkar also told The Currency that Ireland may need to borrow "north of €20 billion" next year as it grapples with the economic fallout of the Covid-19 pandemic. 

"Does it require substantial borrowing from the government? Yes it does. €20 billion this year. Probably north of €20 billion next year," Mr Varadkar said. 

Finance Minister Paschal Donohoe last month forecast a 2021 budget deficit of 4.5% to 5.5%, equating to cash borrowing in the region of €15-19 billion but said measures announced in the October 13 budget could push that higher.