No Brexit,blow on the British economy

Leaving the EU without a deal could inflict a huge blow on the British economy.

“German BDI industry body has highlighted the dangers to the German economy of a No Deal #Brexit, warning that ‘any lack of clarity would jeopardize tens of thousands of businesses & hundreds of thousands of jobs in #Germany\.

Ann Linde, Sweden’s EU Minister, stated that the exemption will give UK citizens the opportunity to go about their daily lives without having to face unnecessary difficulties in the event the UK crashes out of the EU without an agreement.

British Prime Minister Theresa May has held talks with lawmakers from the ruling and opposition parties to discuss alternatives to her voted-down plan for leaving the European Union.

EU Commission’s Contingency Action Plan published in December as a result of the uncertainty in the UK surrounding the ratification of the withdrawal agreement at the time. The recommendations ask that member states take a generous approach to UK citizens’ rights in the EU, provided that the same is reciprocated by the UK.

A no-deal Brexit looms ever larger now following the rejection of the withdrawal agreement by the UK Parliament on 15th January.

The talks were held on Thursday, two days after parliament rejected her Brexit deal.

In a letter to Corbyn that was made public, May noted that there’s no way to avoid a no-deal Brexit unless parliament either agrees on a deal with the EU or Britain chooses to stay in the EU permanently before March 29th, when it is scheduled to leave.

May wrote that the EU would not agree to extend Britain’s membership simply to allow more debate on Brexit.

May plans to submit an alternative plan to parliament on Monday next week and hold a vote on January 29th.

With various views emerging, including on whether to hold another referendum on Brexit, the prospect of a quick breakthrough in the impasse seems unlikely.

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