Brexit: Desperate attempts to reach customs union compromise

London

THE European Union (EU) will have to agree on a customs union compromise to prevent the UK crashing out of the union without a Brexit deal.

Both the UK and EU desperately want a deal to avoid border friction and chaos, a potential equity slide and ultimate recession. A no deal Brexit also implies that the EU would not receive most of an agreed financial settlement of £39 billion (S$71 billion) if there is no deal.