2019-08-08 13:58:51 UTC
Former US treasury secretary rains on Boris's parade ...
A former US treasury secretary has said it is "delusional" for the UK
to expect a favourable trade deal with America after Brexit.
Larry Summers, who served as director of the National Economic Council
in Barack Obamas administration, said that Boris Johnson's "do or die"
strategy of leaving the EU at the end of October, whatever the
circumstances, had robbed the "desperate" UK of any leverage in future
Mr Summers told BBC Radio 4s Today programme: "Look at it from
Americas point of view: Britain has much less to give than Europe as a
whole did, therefore less reason for the United States to make
concessions. You make more concessions dealing with a wealthy man than
you do dealing with a poor man."
"Second, Britain has no leverage. Britain is desperate. Britain has
nothing else. It needs an agreement very soon. When you have a
desperate partner, thats when you strike the hardest bargain."