Matthew Lynn Matthew Lynn

Macron’s no-deal Brexit gamble could backfire

The ‘Non’ was not quite as frosty as it might have been. When Boris Johnson met up with France’s president Emmanuel Macron there were at least some pictures of the two men talking amicably. Even so, while Germany’s chancellor Angela Merkel and some of the EU’s other leaders have at least left the door a tiny bit open to renegotiating the UK’s departure from the EU, Macron made it clear it was almost completely shut.

In fact, Macron is making almost as big a bet as Johnson. His calculation is that a no-deal Brexit will work to France’s advantage. Yet he may well have mis-calculated – and it could easily drive his own economy into recession.

Last time around, it was France that was most reluctant to allow Britain to postpone its exit from the EU.

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