UK Again Preparing for No Deal Brexit

The UK’s Minister of Finance, Rishi Sunak, has played down the effect of a no trade deal Brexit, in a recent interview with the Financial Times.

“They may well talk, but nothing is scheduled.”

“We aren’t quite at the point where leaders get involved.”

Sunak did not reveal a model in which the British Treasury is preparing to deal with the consequences of a no deal Brexit, noting that the effects would mainly be in the short term.

Meanwhile, the Prime Minister of Ireland, Micheal Martin, said on Monday that he is hoping the outline of a Brexit free-trade deal will come up by the end of the week, despite the continuous difference in opinions between the United Kingdom (UK) and the European Union (EU), Reuters reported.

Last month, Prime Minister Boris Johnson said that the time has come to be ready for a not reaching a trade deal with the EU.

This was about 10 weeks before the end of the transition period, which was agreed with the Brexit and expires by the end of the year.

According to Johnson, the European Union refused to negotiate seriously.

On the other hand, the Chairman of the EU summit, Charles Michel said that he is still working for a deal with London, but will not compromise on the main issues.             

Similarly, European Commission President Ursula von der Leyen said that there is still time to reach a deal between the two sides.

Earlier this month, Sunak said that significant progress has been achieved in trade talks.