World Bank warns of wider no-deal Brexit fallout

Not just the eurozone at risk but countries further east and south, such as Belarus and Turkey

A no-deal Brexit will have a negative economic impact from Moldova to Morocco, as the shockwaves sweep eastwards across Europe and through trade links to North Africa, the World Bank has warned.

Unlike previous reports which focused on the UK and the 27 members of the European Union, the Washington-based organisation said nations from Belarus, Ukraine and Moldova in the east, and around the Mediterranean from Turkey and Egypt to Morocco would also suffer should Britain and the EU fail to agree a deal.

A hard Brexit would take Britain out of the EU's single market and customs union and ends its obligations to respect the four freedoms, make big EU budget payments and accept the jurisdiction of the ECJ: what Brexiters mean by "taking back control" of Britain's borders, laws and money. It would mean a return of trade tariffs, depending on what (if any) FTA was agreed. See our full Brexit phrasebook.