EU’s Brexit Patience With U.K. Won’t Last Forever, Juncker Says
EU's Brexit Patience With U.K. Won't Last Forever, Juncker Says
(Bloomberg) -- The European Union’s Jean-Claude Juncker warned that the bloc’s patience could run out, as he urged a decision from London on Brexit within hours or days.
“We have had a great deal of patience with our British friends, but patience can also run out, it comes to an end,” the European Commission president told Italy’s RAI television in an interview Sunday, on the eve of a visit to Rome.
“I would like Great Britain within a few hours, within a few days, to reach an accord on the road to follow,” Juncker said. He added that he’s remarked “that if we compare the Sphinx and Great Britain, the Sphinx would look like an open book.”
Asked whether a second Brexit referendum is possible, Juncker replied: “It is something which concerns the British exclusively. It is not up to us to give lessons to the British on the path they intend to follow -- they must decide what instruments they will use to reach the end of this process.”
Juncker’s comments come as European leaders, including German Chancellor Angela Merkel look for ways to shield the EU from the fallout of potential political chaos in Britain in the case of a no-deal Brexit. The bloc has given the U.K. about another week to notify of the way forward, as it prepares an all-important summit in Brussels on April 10.
Juncker, who will meet Italian Prime Minister Giuseppe Conte on Monday, underscored Commission concerns about the country’s economic prospects, although he said he wouldn’t go as far as the International Monetary Fund in saying Italy could be a risk for the global economy.
“Italy must rediscover the instruments which will allow it to relaunch its economy, but to say Italy is a risk is an exaggeration even though the public debt level is dangerously high,” Juncker said. “The Italian government tries to take measures which allow Italy to restart growth. I want to believe it but I am not sure.”
Italian Finance Minister Giovanni Tria said Sunday that the country doesn’t have room for expansive fiscal measures as economic growth in Italy is close to zero amid the slowdown in Germany.
Italy’s debt amounts to 132.1 percent of economic output, the second-highest level in the euro region after Greece. In December, the populist government in Rome reached a deal with the EC for this year’s budget, after revising down the deficit target and the forecast for economic growth. Since then, data has shown that Italy has entered a recession after GDP contracted for two straight quarters.
To contact the reporter on this story: John Follain in Rome at jfollain2@bloomberg.net
To contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Ros Krasny, Kevin Miller
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