May Remains Confident of Reaching a Brexit Deal

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Downing Street has asserted that Theresa May is hopeful of securing a Brexit deal with Brussels in spite of Liam Fox’s affirmation that the UK is ready to come out of the EU without reaching an agreement.

Sources informed that they believe that there is a small chance of the government failing to secure a deal. However, preparations for the deal stepped up even though the event taking place is unlikely. Sources informed that the remark made by the international trade secretary was a part of a deliberate strategy in order to talk about the chance of a no-deal Brexit so that pressure can be placed on the EU leaders. Only then the EU leaders would take a look on the Chequers plan seriously.

Ministers are becoming tense with the fact that Brussels’ decision to stick to the red lines despite a round of British diplomacy over the last couple of days, such as May cutting short her vacation in order to meet the French President Emmanuel Macron.

The chances of a no-deal Brexit is 60-40, regardless of the fact that both sides claiming that they want to reach an accord on the terms of the UK’s departure from the bloc in 2013, March.

However, Fox blamed the stubbornness of the Brussels for raising the risk of a no deal. It depends on the EU27 to decide if they want the EU commission’s ideological purity to be controlled at the expense of real economies. Well, Fox’s comment came 2 days after Bank of England’s governor, Mark Carney stated that the chance of a no-deal Brexit is high and the financial system is getting ready to face the shock. Britain’s Foreign Secretary, Hunt also stated that the Brexit deal to be heading towards no-deal accidentally.

Next phase of negotiation between the UK and European Commission is due for 10 days’ time. Many businesses are disappointed with the fact that a sufficient amount of time and preparation has been carried out, in the wake of a no deal.

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