Deal or no Deal: Post-Brexit conditions to define UK’s economy
As the month draws nearer to its end, Britain’s chances of securing an agreement with the European Union are going nowhere. If that happens, Britain might hold a general election that will result in a no-deal Brexit or an opposition-led movement that will come up to win voters and defer leaving the region.
The Institute for Fiscal Studies (IFS), an economic research institute, released a study on Tuesday to show the economic consequences of the possible outcomes of the UK’s move.
The first possibility, Britain leaving the EU without a deal that protects trade, would hamper the country’s economic growth for at least two years, as IFS’s study suggests. Prime Minister Boris Johnson has been vocal about his firm stand of a no-deal Brexit.
The latest development showing growing conflicting views between Boris Johnson and EU officials may mean a smaller chance of making a deal before Brexit.
“What’s at stake is not winning some stupid blame game. At stake is the future of Europe and the UK as well as the security and interests of our people. You don’t want a deal, you don’t want an extension, you don’t want to revoke, quo vadis?” Donald Tusk of the European Council said.