The loss of Arctic ice causes a rise of the level of the waters of the oceans/seas on a global scale. The bigger the water mass, the more precipitation there is, that also means more storms, land slides, flooding's. This also affects the Golf sea current on the long term, as the water will get cooler and the Golf current will eventually stop (it is already decreasing). When this happens, the Earth will suddenly experience an entry into a new ice age, which will cause a drop in the precipitation, spreading of the ice sheets, and global drop of the temperatures.