No deal is more likely than a post-Brexit trade pact, EU chief says

European Commission President Ursula von der Leyen told the bloc’s 27 national leaders that the probability of a no-deal had risen

A no-trade deal Brexit would damage the economies of northern Europe and send shock waves through financial markets

2-MIN READ2-MIN

European Commission President Ursula von der Leyen. Photo: Bloomberg

Published: 7:37pm, 11 Dec 2020Updated: 7:37pm, 11 Dec 2020

Britain is now more likely to leave the European Union’s orbit on December 31 without a trade deal than with an agreement, European Commission President Ursula von der Leyen told the bloc’s 27 national leaders on Friday, an EU official said.

The United Kingdom quit the EU in January but remains an informal member until December 31 when it will finally leave the bloc’s orbit after 48 years. Both sides say they want a trade deal but negotiations are deadlocked.

After British Prime Minister Boris Johnson said on Thursday there was “a strong possibility” a deal would not be clinched, von der Leyen said the probability of a no-deal had risen.

“The probability of a no deal is higher than of a deal,” said the official, who spoke on condition of anonymity about the message von der Leyen gave leaders at an EU summit in Brussels.

Johnson and von der Leyen have given negotiators until Sunday evening to break the impasse over fishing rights and allowing Britain to be punished if in the future it diverged from the bloc’s rules.

“Situation is difficult. Main obstacles remain,” the EU official said of von der Leyen’s message. “To be seen by Sunday whether a deal is possible.”