There has been suggestion that Europe will help limit the damage. It will notby Anand Menon / September 10, 2018 / Leave a comment
The Brexit debate in the UK has returned to the issue of “no deal.” The government has released a series of “technical notices” advising businesses and households on how to prepare contingency plans. Luminaries have competed in calculating the odds of a collapse in negotiations.
It is worth being absolutely clear in discussing the potential for no deal what, precisely, it means. Briefly, it implies the UK leaving the European Union with no withdrawal agreement in place. Hence, “trading under WTO terms”—the outcome of the UK leaving with no trade deal—is not the central issue here. Rather, no deal Brexit means a situation in which many of the rules that govern our relations with the rest of the EU (and, via EU agreements, with much of the rest of the world) would simply cease to apply.
It is this situation—a chaotic Brexit—that we at The UK in a Changing Europe focussed on in our new report on the potential implications of no deal. As the debate rumbles on, however, it is striking how few other people define the notion in the same terms.