7/14, 11:34 AM (Source: TeleTrader)
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Hammond: UK wouldn't be able to control no-deal Brexit

United Kingdom Chancellor of the Exchequer Philip Hammond said that Britain would not be able to control trade with the European Union in case of a no-deal Brexit.

"Many of the levers are held by others - the EU 27 or private business. We can seek to persuade them but we can't control it," Hammond, who is leading efforts to prevent no deal, told BBC Panorama. He gave an example that the UK would be able to let goods from the EU enter the country "without any friction" through Dover but warned the French would be the ones controlling "the outward flow" from Britain into the port of Calais and would be able to "dial that up or dial it down."

Earlier, Boris Johnson, who is the favorite to become the next UK prime minister later this month, claimed there is no need to fear exiting the EU without a deal, while his rival Jeremy Hunt insisted the UK would make a "huge success" of a no-deal scenario.

Breaking the News / NP