It depends on how you define "no deal". I have consistently spoken of the likelihood of no substantive Brexit deal by which I mean it would be hard to see the EU not continuing to allow the UK to participate in the Blue Skies deal and some security cooperation. Also a transition period might be agreed to facilitate further negotiations - the usual EU kick all the problems into the long grass strategy. But the City continuing as a centre of EU finance, a comprehensive trade deal, full access to the Single Market? Not so much. Not even close.

Index of Frank's Diaries