Britain and the European Union remain far apart in negotiations on a new trading relationship and analysts at many banks say the risk of a no-trade-deal Brexit at the end of the year is firmly back on the table.
Talks are being held this week in Brussels but Britain’s refusal to extend the end-2020 deadline has increased pressure to reach a deal by then or be cast adrift without any trading arrangements in place.
“We think there is a 50-50 chance of a no trade-deal Brexit,” said Sarah Hewin, chief Europe economist at Standard Chartered.
“There are big hurdles still and no one is really talking about Northern Ireland at the moment,” she said, referring to one of the main stumbling blocks in past negotiation rounds.
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