EU says Eurozone should prepare for no-deal Brexit
Print Edition
The European Commission yesterday said a no-deal Brexit was 鈥渧ery much possible鈥 as it updated its contingency preparations and told countries, companies and people to be ready for the expected economic fallout.
The European Union鈥檚 executive said it would pay particular attention in coming months to crucial areas including citizens rights, financial services, transport and fisheries, ahead of Britain鈥檚 departure from the bloc, now due on October 31.
鈥淚n light of the continued uncertainty in the United Kingdom regarding the ratification of the Withdrawal Agreement ... and the overall domestic political situation, a 鈥榥o-deal鈥 scenario on November 1, 2019 very much remains a possible 鈥 although undesirable 鈥 outcome,鈥 the Commission said.
British lawmakers meanwhile yesterday defeated an attempt led by the opposition Labour Party to try to block a no-deal Brexit by seizing control of the parliamentary agenda from the government.
Lawmakers voted 309 to 298 against the measure, which would have given opponents of leaving the European Union without an exit deal guaranteed time in parliament on June 25 to introduce legislation.
Lawmakers in all the opposition parties fear a no-deal could inflict serious economic and political damage on Britain.
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