Under new Prime Minister Boris Johnson, the government has strengthened its stance on a no-deal Brexit, which it has said is "now a very real prospect". We can not go on with the withdrawal agreement as it now is, everybody understand that, it's dead.
Renaghan warned that the good work done in Ireland over the last 20 years, bringing decades of troubles and killings to an end, could be jeopardized by the no-deal grandstanding approach taken by Johnson and the British government.
Sterling had reacted to probabilities of a hard Brexit suddenly rising to 35% to 40%, but the risk is 50% or more, he said, adding: "I expect pound volatility on the downside".
Johnson also said that the Irish border backstop - created to prevent the return of a hard border between Ireland and the United Kingdom's province of Northern Ireland - was "no good, it's dead, it's got to go". But after Brexit, that border will become part of the EU's external frontier and would legally require policing.
But in London and Belfast, many view it as a trap, and the backstop is the main reason that the British parliament repeatedly rejected the withdrawal agreement. I don´t think anyone in their right mind would want a no deal Brexit and it could be just a bargaining ploy by the British government.
Varadkar also said on Friday that a no-deal Brexit would make the unification of Northern Ireland and the Republic of Ireland more likely.
"Johnson and his ministers' reckless threats of a no deal are hitting pockets", said John McDonnell, economy spokesman for the opposition Labour party.
Differences over Brexit have strained the bonds that tie the United Kingdom.
British Prime Minister Boris Johnson met political leaders Wednesday in Northern Ireland, where he faces a doubly hard challenge: restoring the collapsed Belfast government and finding a solution for the Irish border after Brexit.
Johnson made his first visit to Scotland as prime minister on Monday, visiting HMS Victorious - one of Britain's four Vanguard-class nuclear submarines which carry Trident ballistic missiles.
Hampshire man Chris Ellis, who has been named as a prospective parliamentary candidate for the Brexit Party, said the group would fight to gain seats in Westminster if Boris Johnson's Brexit failed.
The pound is heading for its worst month for almost three years as it continues to tumble amid mounting fears over Boris Johnson's hard-line stance on Brexit negotiations.
Mr Johnson promised farmers the support they needed and said Britain would be "at the races" if the European Union would negotiate.
Take Harrow, London, where the former prime minister reportedly refused to take questions from anyone other than handpicked journalists. A spokesperson said Johnson had told all the major parties that despite constructive progress in Wednesday's talks, "there now needed to be serious and intense engagement to get this done". She said Brexit would have an impact on the timing of a future referendum on Scottish independence.
Sturgeon said last week that Scotland, where a majority of voters opted to remain in the European Union in the 2016 referendum, needed an "alternative option" to Johnson's Brexit strategy. "I don't think that will ever really change". But an election that provides Johnson with a big majority could allow him to overcome that obstacle.
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