Posts tagged "Britain"

What business needs to know about how Brussels sees the process of Britain leaving the European Union, as related to BCW by senior EU sources.

No deal no way?

After the “flextension” to Oct. 31, granted by the EU27 in the early hours of Thursday, the risk of a no-deal, transitionless Brexit has been pushed back from April 12. The UK political situation remains extremely unclear and so the risk of no deal remains, possibly as early as June 1. However, if the UK holds an election on May 23, as is now scheduled in the UK electoral calendar, no deal will not be possible until Oct. 31. As significant, we believe, is that the behaviour of member states at the summit indicates a significant reduction in the risk that the EU will simply accept a no-deal outcome.

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What business needs to know about how Brussels sees the process of Britain leaving the European Union, as related to BCW by senior EU sources.

Plus ça change…

Talk of Britain being dumped out of the European Union next Friday seems overblown. The risk of a no-deal Brexit is still very real and carries with it a sudden reintroduction of customs controls and questions over mutual regulatory recognition. But there is still little appetite among EU leaders – who will meet British Prime Minister Theresa May in Brussels on Wednesday – to pull the trigger on hard Brexit. Not just yet.

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What business needs to know about how Brussels sees the process of Britain leaving the European Union, as related to BCW by senior EU sources.

        Still fog in Channel, continent in the dark

The bottom line from Brussels this week is that little has changed since the EU summit last Friday. Unless Prime Minister Theresa May can overturn two previous heavy defeats for her Brexit treaty in parliament, Britain could be leaving the EU without a deal, engendering substantial trade and other business disruption, as early as Friday, April 12.

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