Preparations for no-deal scenario should be finalized

The European Union (EU) are prepared for a no-deal scenario, as the European Parliament and the Council have now approved nearly all the foreseen contingency measures, said the EU chief Brexit negotiator Michel Barnier on Tuesday.

"Everyone should now finalize all preparations for a no-deal scenario," said Barnier.

Commenting on the British House of Commons' appeal for an extension of the Article 50 period, he laid bear that if British government requests such an extension at Thursday's EU Summit, "it will be for the 27 leaders to assess the reason and the usefulness for an extension."

"EU Leaders will need a concrete plan from the UK in order to be able to make an informed decision," he noted in a statement published on the European Commission's website.

British MPs on Thursday voted overwhelmingly to ask the EU for an extension to Article 50 in the trouble Brexit process.

Barnier further asked two questions about any possible extension: "Does an extension increase the chances for the ratification of the Withdrawal Agreement? Will the UK request an extension because it wants a bit more time to rework the Political Declaration?"

He said the Political Declaration, which sets out the framework for EU-Britain future relation, could be made more ambitious in the coming days by the House of Commons with a majority.

"If not, what would be the purpose and the outcome of an extension? And how can we ensure that, at the end of a possible extension, we are not back in the same situation as today?" he said in the statement.

"Extending the uncertainty without a clear plan would add to the economic cost for our businesses but could also incur a political cost for the EU," said the chief negotiator, adding that the ball is now in London's yard.

With Brexit due in 10 days, both sides of the English Channel are looking forward to making last-minute breakthrough during this Thursday's crucial Summit.

Despite Barnier's warning for "no-deal" scenario, German Chancellor Angela Merkel said Tuesday that she is willing to fight "until the last second" of March 29 for an orderly Brexit.

There would not be much time left, but a few days would still remain, said Merkel, admitting that the outcome of this Thursday's EU Summit would be unpredictable because "far too much is in flow".