In the absence of an agreement with the European Union (EU), British membership (Brexit) is unlikely to be terminated, according to the German Federal Ministry of Finance, a German business newspaper Handelsblatt said on Thursday, citing an internal analysis of the ministry.
According to an analysis made personally by Finance Minister Olaf Scholz, Vice Chancellor of the Exchequer, countries remaining in the community should seriously consider the possibility of a disorderly Brexit, as new British Prime Minister Boris Johnson insists on a backstop agreement to which is unacceptable for the remaining 27 EU Member States.
European Department of Finance experts say Boris Johnson is planning a G7 summit in France, which will bring together seven of the world’s most advanced industrial nations, to kick off the “big moment”, a conservative politician in an elegant resort on the Atlantic coast in Biarritz will announce the success or failure of the Brexit negotiations.
That is why it is important that the EU position remains unchanged in the coming days, and the community continues to insist that the exit agreement must include a backstop – according to an analysis that the British government could not be sure of last year’s parliamentary approval of Brexit if the EU did allow it, and so the section on backstop would eventually be deleted.
According to the German Ministry of Finance, Germany and the EU have essentially completed their preparations for a disorderly Brexit. No further precautionary measures are planned by the European Commission and no steps need to be taken. Only minor adjustments are needed in some areas – for example, in the financial sector, in the regulation of clearing houses – but only because the Brexi is not scheduled for March, but late October.