EU warning European businesses to prepare for no-deal Brexit

The European Union is warning businesses and people likely to be hit by Brexit to make sure they are prepared for the possibility that Britain might leave the bloc without an agreement at the end of next month.

The EU’s executive arm, the European Commission, on Wednesday released a checklist for companies to use to help minimize expected disruptions to trade after Britain departs on Oct 31.

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The commission says EU funds set up to respond to natural disasters and help people whose jobs are hit by major changes in world trade should be used to help businesses, workers and countries hardest hit by any no-deal.

A total of 780 million euros ($860 million) would be available, if the EU parliament and member countries endorse the move. Britain would have no access to the money.

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