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Cyprus bracing for a no-deal Brexit

May speaks in Parliament on Tuesday

Cyprus is intensifying preparations to cope with the potential fallout of a no-deal Brexit, the foreign ministry said on Wednesday, a day after the British parliament rejected yet another proposal.

Ministry spokesman Demetris Samuel said Cyprus fully respected Tuesday’s decision by the UK parliament, which was disappointing, however, “because it is obvious it is not leading us any closer to an orderly and coordinated Brexit.”

Britain’s parliament rejected Prime Minister Theresa May’s deal to quit the European Union for a second time on Tuesday, deepening the country’s worst political crisis for generations, 17 days before the planned departure date.

Lawmakers voted against May’s amended Brexit deal by 391 to 242 as her last-minute talks with EU chiefs on Monday to assuage her critics’ concerns ultimately proved fruitless.

“Together with our European partners and the European Commission, we continue to think that the ratification of the succession agreement struck by the European Union and the UK government last November, along with the additional assurances given by the EU, is the only path, under the circumstances, ensuring the UK’s exit will be orderly and smooth,” Samuel said.

He expressed hope that in the days until March 29, the official Brexit date, there will be positive developments, adding that Cyprus will continue to work towards a positive outcome even though the necessary decisions must be taken by London.

“At the same time, as the Republic of Cyprus, we will continue and we will step up the preparations that have been ongoing since last summer, to be as ready as possible in the unwanted event of facing a no-deal Brexit,” he said.

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