• USD - 483.94 AMD +0.94 EUR - 512.2 AMD +0.2 RUB - 7.88 AMD +0.88 GBP - 595.54 AMD +0.54
  • GOLD - 24 899,1 AMD SILVER - 282,75 AMD PLATINUM - 15 164 AMD

EU Frees up Disaster Funding for Possible no-Deal Brexit

European Commission unveils latest plans for UK departure without agreement, Politico reports.

It’s official: EU officials are now treating no-deal Brexit as a potential disaster scenario, with emergency funds authorized to help businesses, workers and regulatory systems in EU27 countries hit hard by a disorderly departure of the U.K.

The European Commission on Wednesday stepped up its no-deal preparations and put forward a plan allowing access to two special funds to help address the possible economic impact of a no-deal Brexit.

Under the new proposal, the EU would "extend the scope of the European Solidarity Fund to cover serious financial burden inflicted on Member States directly imputable to a withdrawal without an agreement and that could not be avoided by preparing in advance."

The EU executive also warned that companies and citizens should be prepared for a no-deal scenario, publishing a preparedness checklist for businesses, and proposed technical adjustments in the form of a regulation ensuring basic road freight and road passenger connectivity, a regulation on basic air connectivity, and a regulation on fishing authorizations.

Other materials on this subject

partly cloudy (night)
Humidity: 85%
Wind: 4 km/h
1 C°

Are you for making constitutional amendments in Armenia?