How Will No Deal Affect the EU? - Brexit Explained

In this video we discuss how the UK leaving with no deal will impact the remaining EU countries. There will be a lot of change for both the UK and EU27 if they don't negotiate a deal, including economic damage and disruption to trade. We show some of the biggest challenges the EU will face to help demonstrate how they are likely to act in future negotiations.

TLDR is all about getting you up to date with the news of today, without bias and without filter. We want to give you the information you need, so you can make your own decision.

TLDR is a super small company, run by one person with the help of some amazing voulenteers. We are 100% fan sourced with all of our funding coming from donations and ad revenue. No shady corportations, no one telling us what to say. We can't wait to grow further and help more people get informed. Help support us by subscribing, following and backing on Patreon. Thanks!

[TLDRnews]

Sorry to Belgium and Romania for freaky friday-ing your countries. It was purely an error with our assets and we have fixed it for future videos. Thanks to everyone who spotted the issue so quickly.

[ChristianIce]

The EU is not bluffing.
The integrity of the Single Market is much, much more important than the losses of a no deal.

[stax]

1:29 Immediate disruption of trade
4:12 Long term economic effect
5:56 Affects on EU budget
7:38 Citizens' Rights
9:08 Issues surrounding Ireland

[magnusm]

As my dad says:
Do you want the Norwegian deal?
No.
Do you want the German deal?
No
Do you want no deal?
No.
Then what do you want?!
We want to negotiate.
NEGOTIATE WHAT?!
Negotiate!
Negotiate negotiation?
No we want to negotiate.
*NEGOTIATE WHAT!*

[Gilder-von-Schattenkreuz]

Honestly said the Effect on the UK is entirely irrelevant here.

The Bigger Problem is and stays that giving the UK a Good Deal would Undermine the EUs Unity and would have a tremendous Risk of causing other Countries to also Leave the EU.
Meaning that for the EU a No Deal is still a better option than to make Concessions to the UK despite the Negative Effects of a No Deal.

For the EU. Caving in to British Demands is Equal to Dissolving the EU itself.
Thats why anyone expecting the EU to cave in on British Demands is simply an Idiot.

[debbypp]

People who believe that the EU will change their position about re-opening the negotiation on the deal forget that the negotiatiors currently don't have a mandate to do so neither does Junker. All EU member states need to give them this mandate and so far all remaining member states stand behind the deal. It is true that, for example, many German companies will suffer from a no-deal but if you ask anyone, whether small-medium businesses or the big car manufacturers, they all agree that the EU should not make any more concessions. In addition, the whole backstop was a UK idea and it is a default not the ideal solution - it can be overcome with trade etc deals. The UK wants the EU to offer alternatives but it's the UK that has to come up with viable alternatives. The arrogance that they think that the EU should fix their problems for them. Due to the whole Brexit nonsense the EU had hardly any time to work on their other issues like Italy, rising extremism, environmental issues and becoming more in tune with their own people (working on being more democratic). The EU cannot afford to drag this issue on for much longer without massively pissing everyone else off. They also have elections coming up. Will Britain survive a no-deal? Yes! Will it be painful! Certainly! Will it fix the problems within British society and the economy? Doubtful! There is more than one thing rotten in the state of Britain and the EU is just the scapegoat!

[danielcano]

The disappearance of the single market would have much worse consequences for the EU than a no-deal Brexit. If the EU accepts the proposal of the UK, which basically is to reform the single market in order to satisfy British wishes, the single market would dissappear in a few months. The single market is the result of years of negotiations between 28 countries, and it cannot be changed just because one single country wants. It is absolute sure that the UK will blink first. The EU will never chage its position, not because the EU wants to damage the UK, but because a no-deal Brexit is by far much less damaging than breaking the single market.

[peterparker]

The UK contribution to the EU is less. You have to bring the rebate that the UK gets (as the only EU member) and the EU spending to the UK into account, so the net contribution is around 10 billion €.
That's the size of the EU budget loss after brexit.

[yndolli]

EU just a signed deal with Japanesse. 50% biger than UK. EU will be just fine. Leave, we need move on. You can argue after, how long you fancy.

[snowcold]

The effect of something on another thing is the way it affects the thing.

[Gillemear]

Ah, might need to mention that the rise of sectarian violence in NI is a clear and present danger when discussing the border. For the vast majority of Irish people, this is THE issue. Economics is important but Ireland has had recession and survived them before. A war... much harder to get over

[shoelessjoe]

The biggest area of manufacturing in the UK is the automative industry. No Deal means an extra 10% on our car exports. This makes UK factories completely uncompetitive and will inevitably flush thousands of British people into the unemployment lines.

[malahammer]

Overseas multi nationals set up in the UK to have a foothold in the EU. Do you accept the reason why they are moving?

HSBC: moving 1, 000 jobs from London to Paris, where it will set up its EU headquarters.
-Lloyd’s of London: moving 100 jobs from London to Brussels; EU HQ from London to Dublin.
-JPMorgan: “hundreds” of jobs from London to Dublin, Frankfurt, Germany, and Luxembourg.
-Barclays: 150 jobs from London to Dublin, where it will set up EU headquarters.
-Bank of America: moving EU headquarters from London to Dublin.
-UBS: under 1, 000 jobs from London to EU offices, including Frankfurt.
-Moneygram: moving EU headquarters from London to Brussels.
-European Medicines Agency: moving from London to Amsterdam, including 890 jobs.
-European Banking Authority: moving from London to Paris, including 180 jobs.
-Up to £800bn of assets have been shifted out of the UK, That’s a lot of Tax revenue lost to HMRC
-Barclays have been given permission to move £190bn in funds to Dublin.

-Dyson, Sony, Panasonic going
-BMW Mini already has a plant in the Netherlands with plans to expand that operation THERE!
-P&O go to Cyprus,
-EasyJet registering 100 jets in Austria,
-HQ's Bentley stockpiling parts and saying Brexit is a killer,
-Dixon Group stockpiling TVs and laptops,
-Pets at Home stockpiling pet food,
-Honda, Jaguar Land Rover, Siemens, Unilever, Tescos, M&S also stockpiling due to the risk of border gridlock
- According to the monthly snapshot from IHS Markit and the Chartered Institute of Procurement and Supply, which is closely watched by the Bank of England and the Treasury for early warning signs from the UK economy, British factories in January raised their stocks at the fastest pace since records began in the early 1990s….i.e. stockpiling
-Rees Mogg transfers billions of pounds in funds to Dublin
-Nissan exiting out of Sunderland will happen, despite a deal with the UK. There is a guarantee that contains "sensitive commercial information"…..so how much then!
-Airbus will go, they have a fine tuned JIT assembly line that is dependent on all sub parts in and assembled parts out...without the delays of customs! As for the interchangeability of staff from all over the an instant and streamlined multinational assembly line
- a rise of 34% in the number of British applying for jobs in Ireland, mainly in the IT and Finance sectors!
- 160, 000 Brits apply for Irish passports in 2018

So Brexiteers how’s your Project Fear going?

[OhhhYehItsMeh]

3:21 that's not Belgium, that's Romania with a Belgian flag

How about a video on how various UK businesses prepare for a No-Deal?

[strofikornego]

EU will suffer from shortages of cornish pastries and cheddar cheese.

[konfunable]

In other words - it's a small bump for EU and suicide for UK.

[rickelliott]

URGENT!! The word is "affect". I'd hate people being deterred by such howlers. Also, 'Schengen' is routinely mis-pronounced.

[BobHerzog]

I think what many in the UK and also many of the MPs hopeing for renegotiation under threat of no deal fail to notice is that the EU has to deliver on the will of their people too. And there is a great reluctance to cut the UK anymore slack. They already had EU Membership with fancy extras, they behaved very poorly throught the whole process and whatever was agreed on today was thrown out again tomorrow when UK papers did not like it.

Also two can play the fear game. Faceing the threat of no deal some MP's might be persuaded to vote for the proposed deal instead. Letting no deal briefly happen might even result for the UK to reconsider some of the red lines and result in an easier future relationship. Because that is the only reason there is even a Backstop because the UK's redlines make any form of future relationship apart form 3rd country currently impossible.

Also the notion that there will be no border because no one wants a border is naive. What is the one really big concern with for many hard brexitiers? Freedom of movement! Well when noone guards and checks the new border in Ireland guess where all the "illegal Immegrants" will enter the UK ... Same for the "new trade deals" without being able to controll which goods enter your market you can't brocker an entrance fee.

[opheliabawles]

Many thanks from Norway if you leave the single market and cost us some trade too.

Well at least the UK will be free to get more fish oh wait they will lose reciprical fishing rights to the much more plentiful Norwegian waters. So at least they'll get to over-fish and deplete their own newly deregulated waters l suppose.

What were the other arguements? Something about non-existent but marvelous trade deals with Trump's trade warring America and the relevance of today's Commonwealth l think.