The staggering cost of a ‘NO DEAL BREXIT’ for Emmanuel Macron and Angela Merkel has been revealed by a new report.
A new report reveals that France and Germany are expected to pay a whopping 11.98 billion euros (£ 10.7 billion) bill unless the European Union can strike a Brexit deal with the Britain.
The bloc’s two largest economies are expected to shoulder the burden of a € 33.6bn (£ 30bn) loss in trade with the UK in a no-deal scenario, according to the new report. German insurance giants Allianz have revealed potential declines in business for automakers, chemicals producers and other manufacturers across the bloc if chief negotiator Michel Barnier refuses to budge in the bickering on a post-Brexit trade deal.
The report urges EU leaders, such as Germany’s Angela Merkel and Frenchman Emmanuel Macron, to agree to a compromise to avoid a loss of 33.6 billion euros (£ 30 billion) in exports of EU to UK due to introduction of commercial tariffs. It looks like Boris Johnson’s delay tactics seem to be working – the UK could indeed win after all. TW
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