Skip to content
Monday 24 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,854.32
+0.35%
DAX
26,106.60
-0.11%
CAC 40
8,453.01
-0.37%
STOXX 50
6,447.98
-0.22%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Thursday 12 January 2017 12:32 pm

Brexit minister confirms bumpy EU departure will hurt Europe as well as UK

By: Hayley Kirton

Add as a preferred source on Google

A junior minister from the Brexit department has today become the latest in a string of voices to say a bad Brexit deal will harm Europe. 

In a grilling with the House of Lords on transition periods, parliamentary under secretary of state Lord Bridges of Headley said: "We want to have a smooth and orderly exit and, as the governor of the Bank fo England pointed out yesterday, it is as much in our interest as it is the rest of the European Union."

Bridges added conversations the department had held with various businesses sectors revealed there was substantial appetite for a transition period. 

Read more: The easy sell that preserves the Single Market for the City

Mark Carney told the influential Treasury Select Committee yesterday: "The consequence [of a bad Brexit deal with no transition period] would be greater for Europe than the UK".

However, Bridges refused to go as far today as to confirm that a transition deal was definitely on the government's negotiating wishlist, merely saying: "The government is considering all possible options."

Bridges also confirmed his department was of the opinion that, once the Article 50 notification had been lodged with the EU member states, "it will not be withdrawn". This technical point was also discussed by the government's legal team when the Article 50 case was being heard in the High Court. 

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Trending Articles

  • Can debt-ridden Morrisons become a Big Four supermarket again?

  • Ratcliffe’s Ineos saves Runcorn plant

  • As it happened: Stocks rally; US to unveil ‘economic D-Day’ Iran sanctions

  • Amazon says it buys books in bulk to ‘improve products’

  • HMRC mansion tax inspectors to target homes for property valuations

More from Morning Wire

  • KPMG seeks financial support from parent group in wake of audit scandal

    Big Four
    KPMG Australia office building exterior with modern glass architecture and corporate signage in a bustling business district.
  • Greg Norman: I’d rather see LIV Golf end than wither away

    Sport Business
    Greg Norman, CEO of LIV Golf, wearing a white cap, sunglasses, and a green polo shirt outdoors.
  • Drive to Survive renewed by Netflix as Formula 1 docuseries gets ninth season

    Sport Business
    Lando Norris, in an orange racing suit, holds up a white and blue patterned trophy, cheering on a podium.
  • European private credit booms as private equity firms are forced to refinance

    Investing
    Investment platform Webull is offering access to UK shares
  • Burnham accused of ‘piecemeal’ business rates reform

    Hospitality
    Andy Burnham in glasses drinking a pint of beer at a pub gathering.
  • Was Fifa able to sack senior exec Lamour without consequences? A lawyer explains

    Sport Business
    Getty Images news-related image depicting a significant event or person, suitable for general news and business contexts.
  • The UN treaty that’s been incentivising Britain’s blockers since 1998

    Opinion
    Stop HS2 banner with a train icon, displayed on a brick wall in front of a house, protesting the HS2 project
  • Saba revives attack on Baillie Gifford trust

    Investing
    Baillie Giffords Edinburgh headquarters with SpaceX investor branding prominently displayed on the modern office building ...
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook