EU chief: No-deal scenario would be bad fo Britain

EU chief: No-deal scenario would be bad fo BritainEuropean Council President Donald Tusk warned Britain that leaving the EU without any formal agreement would harm the UK most, Associated Press reported on Wednesday.

With Britain set in coming days to launch two years of negotiations preparing its departure, Tusk responded to "threats" from across the English Channel that it might be best to walk away without a deal.

"I want to be clear that a no-deal scenario would be bad for everyone, but above all for the UK, because it would leave a number of issues unresolved," he told EU lawmakers in Strasbourg, France.

"We will not be intimidated by threats, and I can assure you they simply will not work," he said.

British Prime Minister Theresa May has promised to trigger the process for leaving the 28-nation bloc by the end of the month. That would launch two years of talks that would see the country exit early in 2019.

"We will have no choice but to start the withdrawal talks once the UK notifies. It is our wish to make this process constructive, and conducted in an orderly manner," Tusk said.

That means addressing the uncertainty of around 3 million EU citizens living in the UK, and 1 million Britons who reside in the 27 other nations. A major battle looms over money. Britain could face a hefty divorce bill of up to 60 billion euros ($64 billion), but while it hasn't refused outright to pay, London does object to that sum.

Once May triggers the EU exit clause — Article 50 of the bloc's governing treaty — European officials would require about a month to organise a summit of EU leaders and finalise negotiating guidelines and a mandate for Michel Barnier, a former French government minister who is leading negotiations on behalf of the EU.

The negotiations, which would also outline the future shape of Britain's relationship with the EU, would have to be concluded by October 2018 to leave time for European, and possibly British, institutions to adopt the final agreement.
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