“A No-deal Brexit is like jumping off a cliff without a parachute”

For Pascal Lamy, “what happens in the next days is you move down from first league to fourth league, and you have to apply tariffs, borders, controls and I’m not talking about specific arrangements of airlines, capital markets, nuclear safety. It’s not ready, nobody is ready, for a no deal, which is by the way the reason I think it will not happen. People are wise enough not to jump off the cliff without a parachute.”

|   22/02/2019               |   Euronews             |   Lamy Pascal             |   Economics and finance

Britain would go to the bottom of the international pecking order in the case of a no-deal Brexit, a former Director General of the World Trade Organisation has said. Pascal Lamy likened a hard exit to “jumping off a cliff without a parachute”.