The Irish premier has asked that a new British Prime Minister be selected quickly in order to bring about stability in the wake of Liz Truss’s resignation.

In recent days and weeks, Irish ministers had emphasised how Ireland is closely linked to the UK economy and the need for stability ahead of what is expected to be a difficult winter.

Taoiseach Micheal Martin told reporters in Brussels that “we would like to see the UK system, within its capacity, to be in a position to have a successor selected as quickly as possible”.

Ireland’s Foreign Minister Simon Coveney expressed frustration at “being back to instability again”, referring to tensions around the Brexit Protocol and its impact on Northern Ireland.

Foreign Affairs minister Simon Coveney in Belfast
Irish Foreign Affairs Minister Simon Coveney in Belfast earlier this week. (PA)

The resignation of Ms Truss has raised concerns about the progress that had been made on reaching a breakthrough on the Northern Ireland protocol, and on closer relations between the British and Irish governments.

In a statement, Mr Martin said that agreement on the protocol was “ever more urgent” now and that it was “vital” to maintain a close British-Irish relationship.

He said: “Working together to protect the gains of the Good Friday Agreement and to support peace and stability in Northern Ireland continue to be vital responsibilities for the British and Irish Governments, particularly now in the absence of a functioning Northern Ireland Executive and Assembly.

“Substantive EU-UK engagement to reach agreement on outstanding issues around implementation of the Protocol is ever more urgent.

“Britain is Ireland’s closest neighbour and a relationship of partnership between the British and Irish Governments is vital for peace and prosperity on these islands. I remain committed to working with the British Government in this spirit.”

Mr Martin conveyed his best wishes Ms Truss and her family.

Mr Coveney said the “mood music” between Ireland and the UK had been better recently.

“The frustration for us is we are back to instability again, I had the privilege of being foreign minister for five years, in that time I have dealt with six secretaries of state for Northern Ireland, five foreign secretaries and now it’s going to be four prime ministers,” he told RTE.

“And we’re trying to get complex issues negotiated and we’re trying to find compromises in a very heated and difficult political environment, particularly in the context of Northern Ireland.

“From an Irish perspective this isn’t really about the personalities, it’s about stability and about having a partner to negotiate with that can help us solve problems together.

“Unfortunately, part of the consequence of what has happened today is of course more uncertainty for Northern Ireland because, not only will we have a new British prime minister next Friday, but of course if there isn’t an Assembly up and running in Northern Ireland by next Friday, by law, whoever is secretary of state at that time is required to set a date for a new election.”

Speaking minutes after Truss announced her recognition, Finance Minister Paschal Donohoe said that he hoped the engagement on the future of the Northern Ireland Protocol “can continue” despite dramatic political developments at Westminster.

“The political and the economic stability of the United Kingdom is a vital ingredient in the economic prospects of Ireland and indeed of Europe,” the President of the Eurogroup told reporters in Dublin.

“It’s very important to us from a financial market perspective, but it’s very tangibly important to us as a key destination for the sale of Irish goods and Irish services.

“We, at the moment, don’t see any indication that the latest developments in the United Kingdom are having an impact on the performance of Irish businesses, but it is something that we are monitoring.”

He said that Ireland remained “a close friend” of the UK, even through “tough and challenging moments” during the Brexit process.

“The Irish government believes that a very important contribution to deeper economic and political stability in the time ahead would be a successful completion of the process that is under way with regards to the Northern Ireland Protocol.

“And if an agreement can be reached, it would be a really strong foundation to a far stronger and more positive-looking relationship between the European Union, the United Kingdom and Ireland,” he said.