Airbus CEO warns it could move in event of no-deal Brexit

Airbus blasts London over Brexit uncertainty Airbus chief Tom Enders on Thursday warned the European aerospace giant could make "very harmful decisions" for Britain if it leaves the European Union without a deal, while Ford said it could cost them US$800 million.

Labour's shadow chancellor John McDonnell called for Mr Hammond to come off the fence and tell the prime minister to rule out a no deal Brexit.

The Dutch government revealed Wednesday that officials are in contact with more than 250 companies about a possible post-Brexit move.

Opponents of the backstop don't believe assurances that it will be be a temporary measure used as a last resort if no future trade deal is agreed with the EU.

The Bank of England has said that in a worst-case scenario, a sudden Brexit with no deal on future relations could trigger a recession, with Britain's economy shrinking 8 per cent within months as unemployment and inflation soar.

He and Hammond are meeting their global counterparts in the hope of reaching further agreements, while other ministers are lobbying to show there is "more to the United Kingdom than Brexit". "But leaving without a deal would undermine our future prosperity and would equally represent a betrayal of the promises that were made".

"In order to honour our commitment to the people of Ireland that there be no hard border, we would have to agree on full alignment on customs and regulations, so after a period of chaos we would perhaps end up where we are now, with a very similar deal", he said at the World Economic Forum on Thursday, according to broadcaster RTE. But she has shown little willingness to make changes to her Brexit plan.

On Tuesday night, Mr Varadkar acknowledged a no-deal scenario would be a "real dilemma".

"The Prime Minister should do the right thing and take no-deal off the table so that genuine dialogue can take place", she said.

Meanwhile, a cross-party group of MPs led by Labour MP Yvette Cooper are preparing to add an amendment to the "plan B" Brexit approach, to be debated in the House of Commons next week, in an attempt to block a no-deal Brexit.

But some in the European Union were "looking at what they can do" to change it to get the deal through the UK Parliament.

"The BSG insists that, without such an "all-weather" backstop-insurance, the European Parliament will not give its consent to the withdrawal agreement", said a statement on the parliament's website. But even so, if price pivots back towards the 200-day MA and broken trendline resistance, I would expect dip buying near those levels as buyers are looking increasingly confident that the Brexit outcomes are going to be more pound-positive.

He added: "And that's not something that we could accept".

Brexit Minister Chris Heaton-Harris said: "It does beg the reply that why on earth is he not then backing the deal that delivers the certainty all of those businesses he named have asked for?"

The leading Brexiteer framed the Davos talks as a drive to "get deals over the line" ahead of March 29 and pointed to a report launched by consultant Deloitte confirming the UK's status as Europe's "leading destination for foreign direct investment" from 2015-17.

(Copyright © 2015. All Rights Reserved.)
 
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