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Transcript

00:00:00
>> The Brexit is->> Brexit.>> Avoid a no deal Brexit.>>
FOREIGN]
> All right, another week, another million headlines about Brexit. We forgive you for not keeping up.
00:00:11
MUSIC]
00:00:13
So what happened, what does it matter? And why are these leaders in a James Bond villains lair in Austria? Reuters London bureau chief and resident Brexit guru, Guy Faulconbridge, is here to break it down.>> So, EU leaders and Theresa May had schnitzel in Salzburg. Remember, that's the place that Mozart was born and The Sound of Music filmed.
00:00:33
And after their schnitzel, it basically became clear that with six months to go, there is no Brexit deal. And with no Brexit deal, are we looking at a no-deal? So a no-deal is the United Kingdom leaving the European Union with no divorce settlement, basically no piece of paper setting out how it's all gonna work.
00:00:52
If you've got a British driving license, how are you gonna drive in the European Union after Brexit? If you wanna import food from the European Union or sell food to them, how are the rules gonna work? How our people actually who are European citizens gonna work in the UK, and how are British expats gonna live in Europe?
00:01:11
That's what a no-deal is all about. Brexiteers say a no-deal is no problem. Basically, we just move to World Trade Organization rules. But still, a lot of businesses say that without the niggly little rules that everybody needs to trade and to work, there could be tailbacks on both sides of the British Channel.
00:01:32
>> At the beginning of the week, all parties sounded optimistic, said things were slowly coming together.>> We are ready to improve this proposal.>> I'm confident.>> Positive evolution.>> That changed quickly. Just look at the snark on European Council President Donald Tusk's Instagram, offering Prime Minister May some cake, but no cherries.
00:01:54
As in, no cherry picking in talks.>> So we are at an impasse.>> The talks broke down when neither side would budge on how to handle the question of Ireland and Northern Ireland, set to become the only land border between the EU and UK.>> Brexiteers, and many in Theresa May's party, says that she was ambushed in Salzburg.
00:02:14
She was ambushed after the schnitzel. This is what The Guardian, a pro-European newspaper in Britain is saying, May humiliated. So how's it all gonna end? Juncker, the head of the European Commission, said that actually the UK and the European should be like hedgehogs, like loving hedgehogs. But the trouble is, sometimes they spike each other.
00:02:35
>> All of this means calls from hardline Brexiteers in Theresa May's party for her to step aside are not going to go away. Meanwhile, Aston Martin seems to be taking it all in stride. The auto manufacturer says it's geared up for any Brexit outcome, even stockpiling parts for a worst case scenario, and is continuing the plan to take the company public.
00:03:00
It announced on Thursday it wants $6.7 billion to sell around 25% of the company.