Chance of no-deal Brexit ‘alarmingly high,’ declares Bank of England’s Carney

The potential for Britain to crash out of the European Union has increased to worrisome levels, said Bank of England Gov. Mark Carney on Wednesday, according to Sky News:

‘It’s alarmingly high now. We’re in a situation where the expressed will of Parliament is for some form of deal, so to put it in the double negative: Parliament is against no deal. The government, as expressed by the prime minister, is against no deal, the European Union is against no deal, and yet it is a possibility — it is the default option.’

Mark Carney

Responding to a question about the risk a no-deal departure of the United Kingdom from the European Union occurring, which the central banker had already deemed “uncomfortably high,” he appeared to dial up his level of concern during the Sky News interview.

With the House of Commons having failed to pass a slate of alternative plans to U.K. Prime Minister Theresa May’s negotiated Brexit terms, already thrice rejected by Parliament.

Without a resolution, the U.K. is now set to leave the EU without a deal on April 12.

Read: In one chart: British stockpiling surges ahead of Brexit

On Tuesday, May said a short further delay of Brexit was necessary to hammer out an orderly exit agreement. Her statement followed a seven-hour cabinet meeting.

To break the parliamentary logjam, the prime minister has offered to sit down with opposition leader Jeremy Corbyn of the Labour Party to wrangle an accord that could both be approved by Parliament and pass muster with European Commission officials in Brussels.

Even with an extension to the mid-April deadline (Britain previously extended the initial deadline to leave the EU on March 29), May is racing to solve Brexit before May 22 so the U.K. can avoid taking part

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