EU businesses warn no-deal Brexit would be disaster

Britain exiting the European Union (EU) without a trade deal would be a disaster and must be ruled out, Europe’s biggest business organization said on Monday, according to Reuters. 

Key quotes by BusinessEurope Director General Markus Beyrer 

No deal is a recipe for disaster and should be definitely ruled out. A disorderly, no-deal exit of the UK would be extremely harmful to all sides. It would cause massive damage for citizens and businesses in the UK and on the continent alike.

The negative consequences would not be limited to the exit date but would drag on, endangering the fruitful and positive future relationship we all aim for.

Having twice postponed the date of leaving the EU, Britain is now set to leave the EU on Oct. 31. EU officials have reportedly warned that the no-deal Brexit scenario is looking increasingly likely.