On Wednesday, Jeremy Hunt, the Foreign Secretary of the United Kingdom, said that it would be “a huge strategic mistake” if a no deal is struck before the United Kingdom officially leaves the European Union in March 2019. His statements come as his Latvian counterpart placed the probability of a no-deal Brexit at 50-50.
Hunt was speaking in Riga, the capital of Latvia. He stated: “We do not think that it would be in the interest of any European country whether inside or outside the EU.”
He added: “A growing number of countries (…) are keen for a pragmatic outcome.”
The comment of Hunt suggests that the United Kingdom leaving the European Union without an overall deal would risk generating a sharp decline in the value of the pound. However, Reuters reported that the foreign secretary added that the economy of the United Kingdom would “find a way to get through it” and “ultimately to thrive.”
The divorce negotiations between the United Kingdom and the European Union are stuck amid the disputed within the Conservative government of the United Kingdom regarding how close an economic relationship the United Kingdom should seek with the European Union after it officially withdraws from the bloc. There is an intensifying fear that no deal will be reached before the United Kingdom leaves the European Union in March 2019.
Some businesses say that a no-deal Brexit could indicate massive disruption to travel and trade between the United Kingdom and the other 27 member-nations of the European Union .
On Wednesday, Hunt had a meeting with his with Edgars Rinkevics, his Latvian counterpart, continuing his three-day tour of European capitals to have discussions regarding the withdrawal of the United Kingdom from the European Union.
During an earlier interview with the BBC, Rinkevics stated that “at this point, I would rate it 50-50.” He was saying that there was a 50-50 chance that there would not be a Brexit deal. He added that was “a very considerable risk.” However, he continued to be optimistic that an agreement would be reached by the two parties.