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The Implications of a No-Deal Brexit
Report

The Implications of a No-Deal Brexit

Is the European Union Prepared?

Guntram B. Wolff
Bruegel, 2019
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Recommendation

A no-deal Brexit is no good. While a delay of the departure merely postpones the inevitable, it could afford both the United Kingdom and the European Union a bit more space to consider the weight of any decisions taken. This worthy research note from Guntram B. Wolff, Bruegel's director, advises the EU to make a no-deal exit as costly to the UK as possible while remaining flexible as to departure terms. But, he warns, failure should not be an option; there is much to do, as so much is at stake.

Summary

European Union officials are preparing for the economic maelstrom that will roil the post-Brexit environment. The United Kingdom leaving with no agreement in place could be ruinous, particularly in the short term. Over the longer term, a “no-deal Brexit” could damage political relationships and compromise trade agreements. Brexit could play out in several different ways, the least harmful of which would be via a “negotiated withdrawal” from the EU. A no-deal departure lies at the other end of the spectrum. In between would be the UK’s request ...

About the Author

Guntram B. Wolff is the director of Bruegel, a Brussels-based think tank.

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