EU leaders set to demand no-deal plans be revealed: Instances

© Reuters. Puzzle with printed EU and UK flags

(Reuters) – Europe’s leaders are set to demand that the European Commission publish no-deal plans amid fears that Brexit negotiations are dragging, leaving businesses with little knowledge on what they need to prepare in a worst-case scenario, the Times reported https://www.thetimes.co.uk/edition/news/brexit-eu-leaders-press-for-own-no-deal-plans-lndvzpzft.

“We must now come up with contingency measures. January 1, 2021 is getting close; we need a safety net,” a senior EU diplomat told The Times on Thursday, and added that it is high time to prepare people and businesses in case an agreement cannot be made in time.

The news came few days after EU diplomats warned Britain that time was fast running out for a Brexit deal, and that it may already be too late to ratify one.

A “no deal” finale to the Brexit crisis would be yet another shock for the financial markets amid the economic hit from the coronavirus pandemic. The scenario will disrupt delicate supply chains that stretch across Europe and beyond.

The Times report said an agreement could be finalised as early as Monday.

Reuters had reported that EU trade negotiators will update member states on the latest in trade talks with Britain on Friday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments are closed.