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Failed Brexit Negotiations Would Have "Widespread And Damaging Consequences"

A new report has warned of “widespread and damaging” consequences for the UK if there is no agreemen...
TodayFM
TodayFM

7:58 AM - 20 Jul 2017



Failed Brexit Negotiations Wou...

News

Failed Brexit Negotiations Would Have "Widespread And Damaging Consequences"

TodayFM
TodayFM

7:58 AM - 20 Jul 2017



A new report has warned of “widespread and damaging” consequences for the UK if there is no agreement on a Brexit trade deal.

It comes as the Minister for Foreign Affairs Simon Coveney travels to London today, to hear from British business leaders about their response to leaving the EU.

The report from a UK based think-tank says if a trade deal can't be reached it could result in British airlines being unable to fly, nuclear power stations stopping operations and "legal limbo" for millions of EU citizens in the UK.

The UK in a Changing Europe report also warns there would be "serious political and economic implications" for Northern Ireland – with one major concern the agricultural sector.

A 'no-deal' withdrawal could also trigger a "significant" fall in the value of the pound, a fall in wages and a decline in business confidence and investment.

Today Minister Coveney will use his meetings in London to stress the importance of preventing a return of a hard border, and protecting the gains of the peace process.

In Brussels meanwhile, the second round of Brexit negotiations between the UK and the European Union will wrap up.



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