EU Economics

Germans demand Brexit is delayed til 2020: Five ‘wise men’ economists tell Merkel to DELAY

BRUSSELS should delay Brexit talks until after the March 2019 deadline to save Europe’s economy from catastrophe, advisers to Angela Merkel have demanded.

The German Council of Economic Experts (GCEE) – often referred to as the Five Wise Men – called for Brexit to be postponed to save the bloc from financial hardship.But the group’s first wish is for the UK’s European Union exit vote to be reversed.

In their annual report the group told Mrs Merkel extending the negotiations would be “sensible”.

It follows claims from Brexiteer Jacob Rees-Mogg last month that a deal could take decades if the Government does not meet their Brexit deadline of March 2019.

The Wise Men report said: “Given the immense ramifications of the United Kingdom’s exit from the EU, the GCEE continues to call for preventing this scenario.

Angela Merkel Theresa MayGETTY

Ms Merkel has been urged to delay Brexit negoitiations

“It is, however, likely that more time will be needed to negotiate this kind of agreement than the two-year period specified in Article 50 TEU.“As a result, the GCEE is in favour of granting a one-time extension of this period.”

The GCEE went on to claim market responses to Brexit and the risk of a no-deal scenario could put Europe’s finances in deep jeopardy.

In their annual report the group told Ms Merkel extending the negotiations would be ‘sensible’

The report said: “There is still a risk of an uncontrolled exit and sudden adjustment reactions by economic agents.“Conversely, the possibility of the UK staying in the EU can’t be completely excluded.”

Last month, rising star of the Conservative party Mr Rees-Mogg said the EU would drag the negotiations on for decades if the Government run a minute over the Brexit deadline set out in Article 50.

Speaking at a full to the rafters fringe event at the Conservative Party Conference, the MP for North East Somerset claimed there was plenty of precedent to prove the EU would drag their heels on a deal – adding the UK should strike a trade deal as soon as possible.

Jacob Rees-MoggGETTY

Jacob Rees-Mogg claimed the EU would drag the negotiations on for decades if the Government delay

He said: “The history of the European Union negotiating trade deals is so long and slothful that we need to have that done before we have agreed any payment, before we’ve agreed any final deal, because if we haven’t agreed it by March 2019, it might be March 2029 before we have any agreement, or March 2039.”Mr Rees-Mogg went on to slam the EU’s approach to negotiations, accusing them of acting like a crime syndicate.

He said: “If an organisation that you’re leaving decides to kneecap you as you leave, it’s usually the mafia.”

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I can see no alternative now. We have played nice , but the eu refuse to be sensible, so we should just wish them all the best without us and walk away and go straight on to the WTO, But May is the joker. She will do all she can to keep us tied to the block and keeping it afloat till they have bled us dry. And dopey May will do all she can to make it so,

Jane Davies
Jane Davies

As always it’s all about the money. The money that is thrown down the EU black hole is needed back in the UK.

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