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HomeMore NewsBanking & Finance“No-deal Brexit” a strong possibility, EU to cushion the blow

“No-deal Brexit” a strong possibility, EU to cushion the blow

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London, UK (CWBN)_ As both the EU and the UK prepare for the likely outcome of a no-deal Brext,  the European Commission prepared contingency measures, yesterday (10th Dec), to ensure road and air connectivity between the two parties.

The measures are expected to support connectivity for a period of six months following the deadline. Both parties have also agreed to reciprocate “fair and equal opportunities” in their respective markets, while the EU will continue to accept UK’s current safety standards and other regulations.

Following the deadline on the Withdrawal Agreement, trade relations between the UK and EU will effectively revert to the default regulations of the World Trade Organisation. However, EU sources have noted that individual, niche deals on a smaller scale maybe expected.

Meanwhile, PM Boris Johnson said that “we would never accept arrangements and access to UK fishing waters which are incompatible with our status as an independent coastal state.”

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