Credit Insurance Company Puts No-Deal Brexit Likelihood at 40 Percent in Risk Report

A major European trade credit insurance company currently puts the likelihood of a no-deal Brexit at 40 percent, it said in an export risk report dated Aug. 28. Euler Hermes says the United Kingdom is likely headed for new elections after a no-confidence vote on current Prime Minister Boris Johnson. That could potentially lead to a second referendum on Brexit, and would favor an approval of another extension of Article 50 by the European Union, “probably until Q3 2020,” Euler Hermes said in the weekly report. “However, we continue to give a 40% probability to a no-deal scenario.”