Breakdown in Trust Between UK, EU Would Be 'Geo-Strategic Mistake' - London

11:30 GMT, 31 July 2018

CC BY 2.0 / muffinn / Brexit sailing apart - bon voyage

Foreign Secretary Jeremy Hunt, who assumed office earlier this month after the resignation of Boris Johnson, previously noted that there is a real possibility of a "no-deal" Brexit scenario between Britain and the European Union occurring "by accident."

Sputnik

The British minister urged Berlin and Paris to stand for "a sensible outcome to Brexit talks" in order to prevent a no-deal scenario.

"France and Germany have to send a strong signal to the Commission that we need to negotiate a pragmatic and sensible outcome that protects jobs on both sides of the Channel because, for every job lost in the UK, there will be jobs lost in Europe as well if Brexit goes wrong," Hunt told the Evening Standard.

The statement comes just a day after London announced that it would introduce restrictions on EU financial institutions, including 7,000 European investment funds, if Brussels ends cooperation with companies in the City of London.

UK Minister Warns No-Deal Brexit Would Be as Bad as 2008 Financial Meltdown

31 July 2018, 10:56 GMT

The United Kingdom voted to leave the European Union in a referendum in 2016. The Brexit negotiations officially started in June 2017 and are expected to be completed by the end of March 2019. The UK is currently part of the EU’s single market, however, if London leaves after Brexit, Britain will have to make new trade agreements with its partners, including the US.