>> This is where the heavy lifting really begins, how to leave the single market and keep Britain's economy intact. Theresa May has previously said no deal is better than a bad deal. But with the clock now ticking, there are plenty who disagree. Ryan Air and Ford are among the companies warning against the danger of trade tariffs.
But one thing in Britain's favor is that a bad deal would be bad for both.>> Purely from a commercial standpoint, it does look quite important for the EU to get a deal that ensures they still continue to trade between the UK and the other 27 members of the block.
There is also a political argument that the UK should not be given a deal, which is, somehow, better than the one that they currently have. And so, it will be interesting to see how the economic case, or the commercial case, measures up against the political arguments, going forward, in the negotiations.
Hooray!>> What's more, if there was a good time to Brexit, this would surely be it.>> There's never been a Brexit, there's never been a country leaving the EU. We don't know really if this is a good time or a bad time. In some ways it's a bad time.
Because although the UK economy's been pretty strong in the last few years, the hangover for the financial crisis remains. And yet the global economy is picking up, so you can see the other side of the coin.>> The bigger problem, perhaps, is the time frame. Even if they were the best of friends, is two years really enough?
>> I think you're looking at another five years at least because that's how long a serious trade deal is likely to conclude. The problem with that kind of extension is that it runs through the British political time table. You'd have another general election. That's a moment of major political risk for any government.
>> Given the alternative, it's probably a risk Britain willing to take>> That's if, come the time, the remaining EU members agree to an extension.>>