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.