The EU has published a document summarising the current state of negotiations with the UK over Brexit, and makes the following conclusion:
“Preparing for the withdrawal of the United Kingdom from the European Union, in whatever scenario it may take place, is a matter for everyone. The withdrawal will change the relationship and will have significant effects for the citizens and businesses of the EU of 27 Member States, some of which cannot be remedied.
It is therefore important to take the necessary action in time and that everyone – citizens, businesses, Member States and EU institutions – take the necessary steps to be ready and to minimise the negative impact that the withdrawal will have.”
The bottom line is that we must be prepared for a disorderly Brexit in just 8 months time, as well as planning and hoping for a new negotiated arrangement before Jan 1st 2020.
As any sensible business person will realise, that means taking action now to prepare for a disorderly Brexit in 8 months. Whether or not there is a negotiated settlement by 2020, that will not help if our businesses have gone bankrupt in the meantime.