Brexit: EU announces emergency measures if no agreement is reached

The European Union will announce on Wednesday or Thursday the emergency measures it will take if it fails to reach a trade agreement with the United Kingdom by then, a senior European diplomat said.

According to this source, the update of the EU emergency plans will be necessary because “there will be about three weeks until the end of the transition period” of Brexit. The transitional period ends on 31 December.

“Companies and institutions, such as customs officials across the EU, need to know clearly what duties to impose and other measures if there is no agreement. “By the middle of the week, we will have reached the point where these measures should be announced,” the diplomat added.

“We have been postponing this for weeks, but now we have reached the limit,” he concluded.

Source: Reuters