A solution must urgently be found to avoid no-deal Brexit

European business is extremely disturbed by yesterday’s developments in the UK.  

The withdrawal agreement that includes a transition period is the only available option to avoid major disruption for citizens and businesses. It provides a stable framework to allow time for citizens and companies to properly prepare for the UK exit and the future relation.

BusinessEurope Director General Markus J. Beyrer said: “Yesterday’s vote has unfortunately significantly increased the risk of no-deal. No-deal is absolutely unacceptable for the European business community. It will create chaos and disarray and must be avoided. 

Therefore, we urge the UK to come up with a credible plan of action. Both sides need to do their utmost to find the best solutions and timeline that give the necessary assurances to citizens and companies.”

Nevertheless preparations for no-deal must be fast-tracked. Considering the short delay, both sides should focus on areas that are key to mitigate major disruption. Among others, ensure that supply of food and medicines is not disrupted, transport and key infrastructure operate normally, citizens’ rights are safeguarded (including residence, working and travelling), data continues to flow, customs are operational, financial markets remain stable and Irish peace and stability are protected. During this process a close cooperation and dialogue between competent authorities and business is of critical importance.