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Brexit: Europe's no-deal preparation 'falls short' | |
(about 3 hours later) | |
Business lobby groups have written to the European Commission, warning that its own no-deal Brexit plans "fall short of what is needed to limit major disruptions", Newsnight has learned. | Business lobby groups have written to the European Commission, warning that its own no-deal Brexit plans "fall short of what is needed to limit major disruptions", Newsnight has learned. |
The letter is from Business Europe - an umbrella body for lobby groups across the EU, including Britain's CBI. | The letter is from Business Europe - an umbrella body for lobby groups across the EU, including Britain's CBI. |
It warns of possible disruption to flights, drug supply shortages and data-sharing interruptions. | It warns of possible disruption to flights, drug supply shortages and data-sharing interruptions. |
The Commission said it was in frequent contact with stakeholders. | The Commission said it was in frequent contact with stakeholders. |
But the document suggests European companies - not just UK firms - are extremely nervous about the economic repercussions of a no-deal Brexit on 29 March. | But the document suggests European companies - not just UK firms - are extremely nervous about the economic repercussions of a no-deal Brexit on 29 March. |
'No one is ready' | 'No one is ready' |
The EU's chief Brexit negotiator Michel Barnier previously said the EU was "ready to face" a no-deal scenario. | The EU's chief Brexit negotiator Michel Barnier previously said the EU was "ready to face" a no-deal scenario. |
On 13 March, Mr Barnier said: "The risk of a no deal has never been higher... we are ready." | On 13 March, Mr Barnier said: "The risk of a no deal has never been higher... we are ready." |
But Nicole Sykes, the CBI's head of EU negotiations told Newsnight: "No one is ready - not the UK, not the EU." | But Nicole Sykes, the CBI's head of EU negotiations told Newsnight: "No one is ready - not the UK, not the EU." |
She said urgency was "paramount" and that there "are ways to make sure that the costs for citizens on the UK and EU side are lower". | She said urgency was "paramount" and that there "are ways to make sure that the costs for citizens on the UK and EU side are lower". |
The European Commission published its no-deal "Contingency Action Plan" on 19 December. This included plans for temporary regulatory roll-overs to keep air services between the UK and the EU running and also "equivalence" for financial derivatives and other financial services. | The European Commission published its no-deal "Contingency Action Plan" on 19 December. This included plans for temporary regulatory roll-overs to keep air services between the UK and the EU running and also "equivalence" for financial derivatives and other financial services. |
But Thursday's letter from the Brussels-based business group makes it clear that, in their view, this planning has been insufficient. It says: | But Thursday's letter from the Brussels-based business group makes it clear that, in their view, this planning has been insufficient. It says: |
Most economists believe that the UK economy would suffer more than the wider remaining EU economy in the event of a no-deal rupture, both in the short term and the long term. | Most economists believe that the UK economy would suffer more than the wider remaining EU economy in the event of a no-deal rupture, both in the short term and the long term. |
But particular EU industries heavily reliant on imports from and exports to the UK could still be very severely and disproportionately hit. | But particular EU industries heavily reliant on imports from and exports to the UK could still be very severely and disproportionately hit. |
Business Europe has asked to meet with the Commission's deputy secretary general, Celine Gauer. | Business Europe has asked to meet with the Commission's deputy secretary general, Celine Gauer. |
A spokesman for the Commission said: "We can confirm receipt of this letter and we will reply in due course. We are frequently in contact with stakeholders, including Business Europe." | A spokesman for the Commission said: "We can confirm receipt of this letter and we will reply in due course. We are frequently in contact with stakeholders, including Business Europe." |
You can watch Newsnight on BBC 2 weekdays at 22:30 or on iplayer. Subscribe to the programme on YouTube and follow it on Twitter. | You can watch Newsnight on BBC 2 weekdays at 22:30 or on iplayer. Subscribe to the programme on YouTube and follow it on Twitter. |