Greg Clark: UK Will Regret No-Deal Brexit Forever


Greg Clark, the Business secretary of the United Kingdom, has warned that a no-deal Brexit would be a “mistake that we would regret forever.”

He said that the United Kingdom would permanently regret leaving the European Union without a deal. He also said that the parliament needs to reach a decision to stop this in the next two weeks.

During an interview with The Times, he stated: “The prospects of a disorderly Brexit are very severe for every part of the country and I think it’s entirely reasonable for companies who know what they need and the consequences they face, who invest billions of pounds in this county and employ hundreds of thousands of people, to share that analysis. If they were to point this out afterwards, they would be criticised for having not spoken up.”

The Business Secretary said that he hoped that both London and Brussels could get together in order to prevent a no-deal, which he said would have harmful effects on the economy of the European Union as well.

He stated: “Conversations that I’ve had suggest there is a recognition that a no-deal Brexit on the 29th March would be a disaster for this country, but it would also be deeply damaging for other countries in the EU . . . I think there is a willingness to try to solve this.”

The comments of Clark in his interview with The Times come as the paper reported some government documents that warned that the transport systemof the United Kingdom could get overwhelmed after a no-deal Brexit, while The Guardian said that officials feared mountains of animal slurry and rotting waste.

The views of Clark were echoed by Ignazio Visco, the governor of the Bank of Italy. Visco also sits on the governing council of the European Central Bank.

Today, in a speech in Rome, Visco stated: “any financial markets malfunctions could have major repercussions for all the countries involved and this issue is currently being looked at very closely.”