Generation Brexit

No-Deal Brexit?

by
Haoyu Xu
Haoyu Xu | 3 months ago | in Our common future after Brexit

Bank of England warned of a sharp decline in British economy after Brexit, which might take place without a deal. The commons will vote on PM May’s Brexit deal in less than two weeks, but the prospect is not promising by taking account of recent fruitless debates over the Brexit deal in the house, because PM May has just lost majority. 

Haoyu Xu 3 months ago

Additionally, Democratic Unionist Party (DUP) has announced the withdrawal of its support for May’s deal. Therefore, a no-deal Brexit seems inevitable.

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Randall Z. 3 months ago

Do you think it's possible to re-negotiate a better deal or has Britain lost its chance at achieving a good Brexit?

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Haoyu Xu 3 months ago

I wish the deal could be re-negotiated, but the EU council president reinforced that May's deal is already secured and could not be changed. Therefore, there is a great chance that a no-deal Brexit would take place.


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Daniel Sudit 3 months ago

Recent news sources indicate that significant progress has been made, as May told MP's that "95%" of the deal with the EU has been agreed upon. Though, the Irish Backstop remains to be negotiated, and that is a highly contested issue.

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Yue Ma 3 months ago

In your opinion what should be done to response to such decline?

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Haoyu Xu 3 months ago

The analysis by the Confederation of British Industry indicates that an "orderly Brexit" could actually boost the economy. But, at the moment a no-deal or disorganized Brexit seems to be on the horizon. If a no-deal Brexit happens, the Treasury ought to be ready to support the British economy by increasing government's expenditure and cutting interest rates.

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