FT examines consequences of a Brexit no-deal

Leaving the EU without a formal agreement is not a serious option according to FT. The reason, the alternative is always worse.

FT writes:

“There should be no illusions about what this would mean in practice. If a no-deal Brexit occurred, it would take one of two forms. The first outcome would be where the two sides failed to come to any agreements and the talks ended in arcrimony…”.

“….Trade with the EU would switch to World Trade Organization terms, raising customs checks and tariffs overnight. Capital could flee the City of London, followed by a run on the pound. Food supplies would be at risk because of the uncertainty over certification and standards. The UK’s ports and airports would be thrown into disarray. The list is endless, and no amount of wishful thinking can overcome this reality”.

For the entire article: Click here: https://www.ft.com/content/0ebec84c-8e64-11e8-bb8f-a6a2f7bca546

Source: Financial Times