The German Finance Minister Olaf Scholz and the European Union’s Economic Commissioner, Paolo Gentiloni, said on Saturday that the EU was well positioned to counter a possible failure of the Brexit talks with the United Kingdom and thus assume a “hard” Brexit.
Europe is “precisely and carefully prepared for this,” said Scholz, who is also deputy head of government. “My assessment is that an unregulated situation would have significant consequences for the UK economy,” he warned.
“Europe would be in a position to deal with it. And given the preparations that have already been made, these would not be particularly serious consequences,” argued Scholz.
The Commissioner for the Economy of the European Union, Paolo Gentiloni, had previously spoken in similar terms. Regarding his responsibility for the Customs Union, he said: “We are ready to deal with an exceptionally negative outcome of these negotiations.”