German Chancellor Angela Merkel is preparing for an emergency Brexit summit in what analysts claim is proof that “the EU fears a no deal more than the UK does”.
German Chancellor Angela Merkel is preparing to host a last-minute crisis summit with Boris Johnson if this year’s Brexit trade talks collapse. Brussels insiders claim that this suggests the EU is already planning for talks with the UK to break down. Former Brexit Party candidate Pete Durnell claimed that this was proof that a no deal Brexit would be more damaging economically for the EU.
According to EU insiders this week, Mrs Merkel is planning to use her country’s presidency of the EU in the second half of the year as a means of brokering an emergency Brexit summit.
This comes after British Prime Minister Boris Johnson warned Brussels that he would be prepared to walk away from talks by June if a deal is not outlined.
EU sources claim the bloc is expecting a huge trade row to explode in June.
An EU ambassador said both Berlin and Paris expect trade talks to miss the summer deadline set out in Boris Johnson’s lead negotiator David Frost’s mandate.
Mr Durnell said: “In 2018 the UK actually operated a sixty-six billion overall trade deficit with the EU and their nations, so in other words, they sold us sixty-six billion more goods and services than we sold to them.
“If we apply equal tariffs to both what we export to them, and what they export back to us, then basically, we win big overall.
“I would say that under WTO rules, although some of our exporters to the EU will suffer, because they will have these tariffs to put on their goods and services, they could and should be easily compensated by our government.
“Because of this huge difference in what we sell to them compared to what they sell to us, we are basically in a very strong negotiating position.”
Speaking out about the ongoing budget crisis in the EU, Mr Durnell said that the huge £62bn Brexit gap was taking its toll on the bloc.
He explained: “The Germans, the French and the Dutch are all going to have to stump up the UK’s missing billions.
“The EU being the EU, has basically refused to reduce its budget upon Britain’s departure, which would be the logical thing to do.”
He continued: “Ultimately; the UK cash cow has now left the meadow, and I think the remaining cows so to speak, are going to have to make extra trips to the milking shed.
“Bluntly they don’t like it, and they won’t like it, so there will be interesting times ahead I think.”
This comes as the EU prepares for a dramatic showdown between Emmanuel Macron and Boris Johnson over fisheries.
There is concern that the French fishing demands could even spark the UK to quit the talks early.