With 100 days to Brexit, businesses and EU ramp up no-deal planning
Prime Minister Theresa May’s failure to find a deal the British parliament will approve means the country has to agree a last-minute deal, halt Brexit or leave bloc without a deal
London/Brussels — With just 100 days until Brexit, businesses and the EU ramped up planning for the risk that the UK will leave without a divorce deal, the nightmare scenario for many companies that are now planning for an economic shock. Prime Minister Theresa May’s failure to find a deal the British parliament will approve means the world’s fifth-largest economy now faces three main choices: agreeing on a last-minute deal, halting Brexit or leaving the EU without a deal. No deal means there would be no transition so the exit, set in law as of 11pm on March 29, would be abrupt. Bank of England governor Mark Carney said leaving the EU with no transition could be akin to the 1970s oil shock. May is yet to win the support of a deeply divided parliament for the deal she struck in November with EU leaders to maintain close ties with the bloc. But British politicians have been unable to agree any alternative Brexit course, deepening concerns that the UK will, as May has warned, drop out ...
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