Merkel: EU must prepare for no-deal Brexit

German Chancellor Angela Merkel said on Wednesday that the European Union is accelerating negotiations with the United Kingdom in order to reach a post-Brexit trade agreement by the fall but warned the bloc must be ready for a no-deal scenario.

Merkel insisted the EU “must and should prepare for a situation in which an agreement does not happen.”

Earlier, EU’s chief Brexit negotiator Michel Barnier claimed the two sides will “make the most of our intensified talks” but stressed Britain’s proposal on the regulation of financial services is unacceptable to the bloc.

Breaking the News / NP