100 days to Brexit: EU acts to cushion no-deal shock

Image
AP Brussels
Last Updated : Dec 19 2018 | 6:30 PM IST

With British politics gridlocked and just 100 days until Brexit, the European Union on Wednesday triggered contingency plans designed to cushion some of the shock of a "no-deal" UK exit from the bloc.

The EU measures, announced a day after Britain ramped up its own no-deal planning, are intended to alleviate "major disruption" to people and businesses in sectors including financial services, customs, air transport and climate policy.

European Commission Vice President Valdis Dombrovskis told reporters that the plan was "an exercise in limiting damage." He said the aim was "to turn an abrupt exit into a more soft landing."
But Dombrovskis stressed that the measures "cannot replicate the benefits of the withdrawal agreement, and certainly it cannot replicate the benefits of EU membership."
Organizations including the British Chambers of Commerce and the Confederation of British Industry urged lawmakers to "return to their constituencies over Christmas and talk to their local business communities."
Home Secretary Sajid Javid said the proposals Britain's biggest immigration changes in more than 40 years would create a "skills-based immigration system built around the talent and expertise people can bring, rather than where they come from."

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 19 2018 | 6:30 PM IST

Next Story