Prime Minister Boris Johnson was set to tell German Chancellor Angela Merkel on ...
BERLIN - Prime Minister Boris Johnson was set to tell German Chancellor Angela Merkel on Wednesday that unless she agrees to change the Brexit deal, Britain will leave the European Union on Oct. 31 without one.
Johnson, a Brexiteer who won the premiership a month ago, is betting that the threat of ‘no-deal’ Brexit turmoil will convince Merkel and French President Emmanuel Macron that the EU should do a last-minute divorce deal to suit his demands. She has promised to discuss “practical solutions” to the Irish border insurance policy or ‘backstop’ that Johnson says is unacceptable - but said the Withdrawal Agreement will not be reopened.
Once the nightmare scenario on the extreme edge of probability ranges, a ‘no-deal’ Brexit is now seen as a realistic possibility by both governments and investors.Amid the political turmoil in London, little is clear. The alternatives are a delay, a last-minute deal, an election or even cancelling Brexit.
The official said there was “not the thickness of a cigarette paper” between the French and German positions, and even pressure from Trump would not change the EU’s position. Many investors say a ‘no-deal’ Brexit would send shock waves through the world economy, hurt the economies of Britain and the EU, roil financial markets and weaken London’s position as the pre-eminent international financial centre.
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