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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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Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • Hot Topic

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.

Take-Aways

  • European Union officials are preparing for the economic maelstrom that will roil the post-Brexit environment.
  • A “no-deal Brexit” could be ruinous, damaging political relationships and compromising trade agreements.
  • The United Kingdom could put the brakes on Brexit by reversing its Article 50 notification, which does not need EU approval and would allow Britain to remain an EU member. 

About the Author

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

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