- Sputnik International
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Portugal to Bypass EU and Negotiate Own Post-Brexit Deal With UK - FM

CC0 / / Euro banknotes
Euro banknotes - Sputnik International
Portugal’s foreign minister also accused the European Union of leaving them in a state of “limbo” and exposed to the economic shocks of a no-deal Brexit.

Portuguese Foreign Minister Augusto Santos Silva has hit out at the EU for not allowing member states to secure their own bespoke, bilateral trade deals with Britain while Brexit negotiations have been faltering.

Warning that they are currently in a state of “suspension” and “limbo”, Silva said the stalled negotiations between Brussels and the UK is raising the likelihood of a hard Brexit, which he described as the worst possible outcome.

READ MORE: French Top Diplomat: Ball in UK’s Court as Brexit Talks Face ‘Moment of Truth’

“At the same time, it limits member states like Portugal [in their ability to] deal with their bilateral relationship [with the UK].”

Moreover, the Portuguese official suggested they will negotiate their own deal with the UK after March 2019, as they can’t do so until then due to EU rules, warning that their economy will be severely hurt by a hard Brexit, as Britain is a key market for Portuguese exports.

Portugal is also a popular tourist destination for many Brits, who have propped up the southern European country’s economy in recent years.

Workers walk in the rain at the Canary Wharf business district in London, Britain November 11, 2013. - Sputnik International
No-Deal Brexit Would Put UK On Track for 'Long Recession' - Ratings Agency
Although European countries will also be financially hit by a no-deal Brexit, the UK is most vulnerable, with countless economists and trade bodies warning that Britain is likely to experience high levels of inflation, low or negative economic growth, and even shortages, in such a scenario.

However, with negotiators still unable to find a solution to the issue of the Irish border, a hard Brexit is looking increasingly likely, and all sides have already started planning for such an eventuality.

READ MORE: 'Terror Will Win': David Davis Predicts Death of No-Deal Brexit — Reports

To participate in the discussion
log in or register
Заголовок открываемого материала