The Possibility of ‘No deal’ Brexit and its Consequences for the EU and the Czech Republic

Although the British political scene nowadays is clearly very polarized, in their stance on Brexit, the UK’s business organizations are being abundantly clear in what they think about the proposed deal – they fear the UK leaving the EU without any deal, which, according to them, would plunge the British economy into chaos.

Although losing the access to the single market would be the most painful for the UK’s economy, current deals, which the UK has as a part of the EU with other countries, would also no longer be valid and in need of re-negotiation, for example the long discussed free trade agreement between the EU’s states and Canada (CETA) from 2018.

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