5, September 2019
Once again at the EU’s executive arm, the European Commission, all eyes are on TV sets to see how the political turmoil in London will play out. Inside the building the bloc’s 28 commissioners have been meeting to agree on final plans designed to offset the effects of a no-deal Brexit.
But experts say there is no way that businesses heavily dependent on the UK market can prepare for a no-deal scenario. If it happens, and it’s now looking almost certain, then many thousands of jobs will be lost, according to economists. The remaining 27 EU nations will be badly hit but the UK will come off worst, we are told.
However, there is another important statistic for those who claim the United States is the answer to Britain’s looming trade woes. Currently just 15% of UK exports go to the US and according to analysts it would take years for London and Washington to agree on a new trade deal.
It is no secret that EU leaders cannot stand Boris Johnson. They believe his agenda is for the UK to crash out without a deal. At present the EU is standing firm in its position that the Brexit withdrawal agreement, reached with Theresa May, cannot be renegotiated unless credible concrete proposals are presented by Johnson. The EU’s 508 million citizens are waiting to see what happens next.