EU leaders prepare for potential no-deal Brexit scenario at European Council summit
The European Council, composed of EU heads of state, will today convene in Brussels to discuss potential Brexit scenarios.
Just hours ago, Prime Minister Theresa May was re-affirmed as leader of the Conservative Party 200 votes to 117. Though her leadership can not be again challenged for a year, her situation remains difficult with both lawmakers back home and across the European Union refusing to give ground. Indeed, while neither side wants a no-deal Brexit, the scenario is becoming increasingly likely.
If the UK leaves with no agreed upon plan there would be widespread political and economic chaos. The overnight imposition of customs checks on EU goods could cripple trade leading to food shortages and market crashes. With few contingency plans, services and migration would also likely fall into limbo.
With alterations to Ms May’s proposal already taken off the table by EU leaders, expect preparations for this scenario to become the priority on both sides of the Channel. Ms May will likely retain her premiership until after the UK’s scheduled departure in March, but has stated she will step down prior to 2022’s general election.
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