09.
11.20
12:55

Consequences of a hard Brexit

EU Commission President Ursula von der Leyen and British Prime Minister Boris Johnson did not achieve a breakthrough on Saturday during their phone call about the Brexit trade pact. Both sides confirmed that although there has been some recent progress, there are still important differences, particularly in the areas of competitive conditions and fisheries. As planned, Brussels and London are to continue negotiations on Monday.
The Brexit transition period will end in less than two months. Then Great Britain leaves the EU internal market and the customs union - without a deal there would be a hard economic break. In the case of a no-deal Brexit, the consequences would be massive: According to forecasts, thousands of trucks will jam because of border controls in the Dover area, and many shelves in supermarkets and pharmacies will be empty. The EU states would also be hit. Tens of thousands of jobs are at risk, recently warned the Federation of German Industries (BDI). Domestic political upheavals threaten in Great Britain. Scotland's drive for independence could only grow.

Source
Hansa Terminhandel GmbH
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