France’s finance minister has claimed it’s the UK that can lose out huge from Brexit, because the UK and EU try to beat important variations and safe a commerce deal in prolonged, last-ditch talks.
Talking on France Data TV, the minister of the economic system, Bruno Le Maire, used a phrase coined by the just lately deceased John le Carré, calling the UK’s departure from the EU a “political, financial and historic folly,” and stating that “Brexit is insanity.”
Requested in regards to the impression of a no-deal Brexit, the finance minister mentioned he believes “the large losers from Brexit would be the British,” predicting that it’ll have a minor impact on France’s GDP, whereas the UK experiences a big dip.
Le Maire has repeatedly been important of the UK’s resolution to go away the EU, urging member states earlier this yr to make “no extra concessions” in commerce talks, as he feels that doing so is pointless and might be detrimental for the bloc. In 2018, he additionally attacked Prime Minister Boris Johnson and those that pushed for Brexit, accusing them of being liars who hid the true penalties of Brexit from the general public.
The French minister of the economic system’s warning to the UK comes as Britain and the EU stay in a tense standoff, having been compelled to increase Sunday’s deadline for a commerce deal, after it grew to become clear there have been nonetheless main unresolved points. Regardless of each negotiators agreeing that it is very important go the additional mile to discover a resolution to the deadlock, neither facet has expressed a willingness to again down.
The UK and EU haven’t set a brand new deadline for the conclusion of talks, however the transition interval ends at 11pm GMT on December 31, and time have to be offered for any deal to be agreed by the UK, European Union, and parliaments in member states. If no deal is secured in time, the 2 sides will start buying and selling on World Commerce Group (WTO) guidelines, with tariffs applied on items being traded throughout the channel.
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