The market must be careful, the EU is ready with a 'No Deal' situation!

 European Union leaders today commented on the progress of the Brexit talks. According to them, even a small agreement is worthwhile but the EU will not compromise on any costs that have to be borne.

According to German Chancellor Angela Merkel, the EU wants an agreement but does not want to bear any unfair costs. Thus it must be a fair agreement that benefits both parties.

Negotiations that have been conducted have narrowed the gap on issues ranging from social well-being to transportation. However, there are three issues that still hinder the agreement, namely the issue of fair competition, follow-up agreements, and fisheries.

French President Emmanuel Macron says if conditions are not met then there is a possibility of no agreement. He said, “if the exact conditions cannot be agreed upon at the end of this discussion, we are ready not to make an agreement for future relations.

Ireland, a member of the EU, says smooth post-Brexit trade between the world's sixth-largest economy and the largest trade bloc is still possible and even more important. This is because the impact of Covid-19 has already had a very bad impact on society and the economy.

Prime Minister Boris Johnson's spokesman said Britain would look into the meeting in Brussels before deciding on follow-up measures.