EFTA trade bloc drawing up contingency plans for a no-deal Brexit - Reuters

In an interview with the Swiss daily, Neue Zuercher Zeitung, Henri Getaz, a Swiss diplomat and European Free Trade Association’s (EFTA) Secretary-General, noted that the four-nation EFTA trade bloc is preparing contingency plans in case of a no deal Brexit scenario.

Switzerland, Norway, Iceland and Liechtenstein comprise the EFTA.

Key Quotes (via Reuters):

“We cannot rule out a no-deal scenario until the last moment. Therefore, all parties must take precautions to minimize the disruption of economic and financial flows and to secure the essential rights and obligations of citizens in such a case. This also applies to the EFTA states.”

“Such arrangements are currently being prepared. We are aware that some circles in London are promoting the idea of joining EFTA or the European Economic Area (EEA). But that does not match the position of the British government, which has rejected the option and taken a different line.”