Talk of 'no deal' Brexit rises as divorce negotiations stall
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As Brexit negotiations between Britain and the European Union stutter and stall, one nagging question looms larger and larger: What if there is no deal?
It's an increasingly plausible prospect that stirs fear in many U.K. businesses — and hope in the hearts of some staunch Brexit supporters.
When Britain leaves the EU in March 2019, thousands of laws, agreements and regulations covering everything from trade to crime-fighting to aviation will cease to apply. Unless a new deal is struck, the U.K. will have to trade with the bloc on World Trade Organization terms, bringing tariffs and economic uncertainty.
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The Labour Party's Brexit spokesman says "only fantasists" support leaving without a deal.
But John Longworth of lobby group Leave Means Leave argues Britain would be better off walking away now.