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UK should expect no-deal Brexit
UK should expect no-deal Brexit

Experts note that the UK should expect a hard Brexit. The government has to be prepared for such a scenario, analysts say.  

According to Michel Barnier, the EU’s chief negotiator, a no-deal Brexit is now very likely. He stresses that the EU 27 is ready for this outcome. Mr Barnier adds that the only acceptable option would be the UK to leave the EU with a deal approved by Theresa May and Brussels. The policymaker says that the way to avoid a no-deal Brexit is through a positive majority in favour of an agreement in the British Parliament.

Three possible scenarios of Brexit were set out by the EU official: 1) Parliament supports the exit from the EU in the course of the next voting, 2) the UK leaves the EU with no deal, 3) the British government asks for the extension. However, a postponed Brexit poses significant risks for the European Union, therefore such a scenario is unlikely, the politician believes.

Representatives of the European Union are also ready to add amendments to the political declaration, a part of the Brexit deal, in case of a successful (with an agreement) UK’s withdrawal from the EU. On Monday, April 1, UK lawmakers failed to find a majority on any of four alternative Brexit plans once again. MPs voted against the UK withdrawal agreement.

This situation affects the British pound. Earlier, the currency used to grow amid Brexit worries; however, it shows a decline this time. Experts believe that the negative trend will persist.

Published: 2019-04-16 15:18:04 UTC
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