You have successfully emailed the post. Britain is on course for the worst deal possible — “hard Brexit. But a bad deal for the British economy could spell recession for the whole of Europe, according to ING: “Things could go very badly. New polling data show Britons want May to get a deal that EU officials have repeatedly britain leaving europe down.
A combination of “toxic politics” and economic dislocation could be the most deadly combination for all economies. Britain is going to be punished when it comes to leaving the European Union. But a bad deal for Britain could trigger a continent-wide recession, according to a recent note from analysts James Knightley, James Smith and Viraj Patel at ING, the investment bank. Things could go very badly,” ING says, if the dealmakers can’t reach an agreement. Arguably, leaving the EU was always going to mean a bad deal for the UK. Why should it gain all the perks of being a member of the 28-nation bloc without adhering to every one of the “four freedoms.
The four freedoms require member states to accept the free, unlimited movement of goods, capital, services, and people. The free movement of people was arguably the biggest concern for voters in the June referendum. One of the EU’s chief Brexit negotiators Guy Verhofstadt has said several times that Britain cannot “cherry-pick” a Brexit deal. There is only the whole menu or none. The complex, difficult agreement will cover everything from immigration to trade.