Minford cited fury among Conservative ranks as another issue for May.
Meanwhile, Professor Anthony Glees, Director of the Center for Security and Intelligence Studies at the University of Buckingham, warned the chaotic political situation in Britain could lead to further chaos.
Glees told Xinhua: "What my sources indicate (and I've just attended a meeting is that the Chequers agreement is really still a compromise between the Remain and Brexit wings of the Cabinet. It has allowed both to sign up to the deal, but as a practical proposal and workable plan it is fraught with problems."
He said Britain will have to decide either to leave the EU altogether or effectively stay in, extending the 'Common Rule Book' to services as well as goods, that is to the 80 percent of the economy and not just the 20 percent of it.
"Why give car manufacturing advantages over financial services, for example, added Glees. "This just does not make sense, is unfair and will lead big financial services to pull out of the UK, full stop. So if we do this deal on goods, it'll have to be on services as well."
What that will mean is that Britain either leaves, full stop, or stays in but without any ability to shape the rules, he said.
Glees added: "At the moment, despite this not being what most of the two sides want, the most likely outcome seems to be a hard and even a cliff-edge Brexit, what the Brexit ideologues would call a 'diamond Brexit'. That in turn would lead to twenty years of upheaval and a massive decline in the wealth and the standard of living of the people of the UK. Did the 52 percent vote for that? I don't think so."
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