Brexit News: France Sees No-Deal Brexit As Likeliest Scenario For Negotiations

An official in French President Emmanuel Macron's office said that the French government sees a no-deal Brexit as the most likely outcome of current negotiations regarding the U.K.'s exit from the European Union.

"The scenario that is becoming the most likely is the no-deal scenario," the official said, adding that the European Union will seek to protect the single market and preserve the stable political situation in Ireland.

Prime Minister Boris Johnson has said that the U.K. will leave the European Union on Oct. 31, with or without a deal. He has derided the Irish backstop, a policy that would ensure that there would not be a hard border between Ireland and the U.K. in case of Brexit.

The French official said that without the Irish backstop, no political deal would be possible between the EU and U.K. Macron and Johnson will meet Thursday in Paris to discuss Brexit and the Middle East.

Johnson made a visit with German Chancellor Angela Merkel on Wednesday to discuss U.K.- German relations in light of Brexit, with Johnson saying that the two countries are "shoulder to shoulder." Protesters shouted "liars" and "stop Brexit" as the leaders met.

Germany and France are the largest economies and political players in the EU, which will have 27 countries once the U.K. leaves. Analysts fear that the no-deal Brexit would thrust the U.K. economy into a recession, with the U.K. Office of Budget Responsibility warning that the value of the British pound would fall sharply.

A leaked government report over the weekend dubbed "Operation Yellowhammer" revealed that the U.K. would experience fresh food and medicine shortages in the case of a no-deal Brexit, with prices of consumer goods rising due to scarcity.

The U.K. made the decision to leave the EU in June 2016 in a nationwide referendum.