March 22, 2019 / 9:37 AM / a month ago

Franklin Templeton's Zahn says 30 percent probability of no-deal Brexit, may rise further

FILE PHOTO: Head of European Fixed Income at Franklin Templeton, David Zahn speaks during the Reuters Global Investment Outlook Summit in London, Britain November 16, 2016. REUTERS/Luke MacGregor/File Photo

LONDON (Reuters) - There is a 30 percent chance of Britain crashing out of the European Union without a divorce deal in place, Franklin Templeton’s head of European fixed income, David Zahn, said on Friday.

He said the short extension offered by the EU to Britain was unlikely to fix the differences and left a no-deal scenario on the table.

“We’d estimate it has around a 30 percent possibility and without any rapid progress, that likelihood will keep increasing,” Zahn told clients.

Reporting by Sujata Rao; Editing by Tommy Wilkes

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