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Jan 19, 2017

Europe risks economic harm from Brexit unless EU and Britain can strike trade deals

Hungary's foreign minister said that even though Brexit was "bad news for Europe as well as Hungary" the European Union must not penalize London in any way for the decision

Europe risks economic harm from Brexit unless the European Union and Britian can strike the widest, most comprehensive possible free trade deal, Péter Szijjártó, minister of Foreign Affairs and Trade, has said.

According to Reuters, the minister said that even though Brexit was "bad news for Europe as well as Hungary" the European Union must not penalize London in any way for the decision, and urged close cooperation between Europe and Britain in the areas of security and labor.

The minister warned that the UK is likely to make quick trade deals with other nations, posing a risk to Europe if it proves less competitive.