Britain Is Preparing For a 'No Deal' Brexit. Here's What That Means

[jpak]

http://time.com/5358452/britain-no-deal-brexit/

Before Britain’s 2016 referendum on membership of the European Union, Britain’s then-prime minister David Cameron adamantly refused to make plans for what his government would do if the country voted to leave. In the event, Britain voted for Brexit. Cameron resigned as the government faced the thorny question of how to leave the E.U.

Today, Cameron’s successor Theresa May is no nearer to an answer after two years of negotiations with E.U. chiefs. And the possibility of the U.K. having to leave the E.U. without a working relationship with its closest neighbors — a ‘no deal’ Brexit — is beginning to look increasingly likely.

On Friday, Mark Carney, the governor of the Bank of England called the level of risk “uncomfortably high.” On Sunday, Britain’s international trade secretary Liam Fox – a prominent ‘Brexiteer’ – said that Britain leaving with no deal was the most likely scenario.

If no deal is reached, Britain would withdraw from the E.U. on March 29, 2019 without any of the trade, customs and regulatory measures May’s government is currently negotiating to smooth Britain’s transition. At the end of August, the U.K. government will release detailed guidance to businesses on what will happen if the country crashes out of the E.U. But already, business lobby groups are warning there could be chaos at the border, uncertainty over citizens’ rights and possibly even food and medicine shortages.

<more>

Putin for the win....

[Anon-C]

1. Simply insane!

[Girard442]

2. At this point No-Deal-Brexit looks even more self-destructive than us with Trump in the White House.

Who would have thought that was even possible?

[marybourg]

3. Putin lovin' it.

[KPN]

4. Putin's on a roll in his effort to extinguish NATO.

The UK and USA are edging toward being unfriendly nations with the rest of Europe largely as a result of Russian interference and infiltration into UK and US Democratic elections. The Russians have had enablers in each instance. “Assets” they’ve recruited to assist them.

[ProfessorPlum]

5. Putin's plan to destroy the UK, the US, NATO, and the EU

rolls onward without a hitch.

Way to go, Putin. You asshole.


I really wish the UK would wake up and just beg the EU to be allowed to stay.

[gratuitous]

6. Gee, and I heard "no deal" was simply unpossible

The problem, of course, is that the Brexit folks figured that Britain was the Indispensable Country, and there was no WAY Europe was going to let them just flounce off. The rest of the EU would be begging - begging, I tell you! - Britain to come back, baby, all is forgiven.

But since the Brexit vote, Britain doesn't have anything to offer the EU except its sparkling company and conversation. Shockingly, that's not enough for the rest of the EU to come groveling across the Channel. Britain created this mess all by itself, and that's just how they now find their nation: All by itself.

[Blue_Tires]

9. Farage and his allies in the media sold his country snakeoil by the barrel

and just like Trump, he swore his citizens would be able to have their cake and eat it, too in defiance of ALL rational logic and the suckers ate it up

[Blue_Tires]

7. morons...

Never should have let it get to this point.

[NewJeffCT]

8. Is there a possibility of a new referendum in the next year?

you know, to cancel Brexit?

[Ghost Dog]

10. In the next six months. It is a possibility,

and many interest groups are strongly advocating for a second referendum. Assuming there will be a withdrawal agreement between UK and EU, the options shoukd be to accept the agreement, to exit with no agreement, or to cancel the process and remain in the EU. If there is no withdrawal agreement the options should be to exit with no agreement, or to cancel the process and remain in the EU.

Given such a referendum, and since a very 'soft' withdrawal agreement seems unlikely to be achieved, I would predict at this time a result in favor of remaining in the EU.

[edhopper]

11. No deal means

no food, fuel or air traffic in or out of Britain.

[DonCoquixote]

12. what no deal really means

It means that the UK, once an empire, will be a vassal of Russia. Part of me thinks that would be a feast of karma, but the saner part realizes that Russian bases in England would be a disaster.

It also means that Ireland and Scotland could get rich as Europe moves to embrace them, and vice versa.