Britain will be the 'big losers' in a no deal Brexit, warns European Commission President 3 months ago

Britain will be the 'big losers' in a no deal Brexit, warns European Commission President

Jean-Claude Juncker reckons the British will lose out the most in the event of a no-deal Brexit.

A no-deal Brexit would hurt Britain more than the rest of Europe, outgoing European Commission President Jean-Claude Juncker said in remarks published on Saturday.

Speaking to Austrian newspaper Tiroler Tageszeitung, Juncker said that “If it comes to a hard Brexit, this is in no one's interest, but the British would be the big losers. They pretend it's not like that, but it will be."

Juncker insisted that the EU was prepared for the deal, while the UK is far from equipped to deal with the consequences.

"We are fully prepared even though some in Britain say we are not well set up for a 'no deal'. But I am not taking part in these little summer games," said Juncker, who is due to be leaving his position soon.

The likelihood of a no-deal Brexit has increased significantly since Boris Johnson was appointed Prime Minister of the UK, with Ireland's Minister for Fiance Paschal Donohoe recently saying that it is a "very credible and material risk now."

News also emerged on Saturday that value of the pound is plummeting towards parity with the euro, as the UK braces itself for a potential no-deal Brexit.