New UK PM Pursuing 'Dangerous' No-Deal Brexit Deal - Nicola Sturgeon

Britain's Prime Minister Boris Johnson gestures as he visits HMS Victorious at HM Naval Base Clyde in Faslane Scotland

But Mr Varadkar maintained there could be no reopening of the withdrawal agreement.

"Once we leave the European Union on the 31st of October, we will have a historic opportunity to introduce new schemes to support farming - and we will make sure that farmers get a better deal".

The 27 other European Union members, though, say publicly and privately that the divorce settlement - including the backstop - is not up for barter. They say millions of sheep might have to be slaughtered if tariffs are slapped on lamb exports to the EU.

The British pound fell on Tuesday as investors bet Johnson's Brexit brinkmanship could trigger a messy divorce that would sow chaos through the world economy and financial markets. If they try to thwart Brexit, an election becomes much more likely.

The meeting comes after Gove suggested on Sunday that the United Kingdom is operating "on the assumption" that Britain is heading for a no-deal exit, while the Foreign Secretary Dominic Raab said that the "balance has shifted" towards leaving without an agreement.

The British currency has shed around 2.4 percent of its value since Johnson took over last week, and is headed for its worst monthly performance since October 2016, just after the country voted to leave the EU.

In his first phone call with Irish Prime Minister Leo Varadkar since taking office last week, Johnson said he emphasised that "the United Kingdom under no circumstances will have checks at the border in Northern Ireland".

Johnson made his first visit to Scotland as prime minister on Monday, visiting HMS Victorious - one of Britain's four Vanguard-class nuclear submarines which carry Trident ballistic missiles.

Johnson's so-called "war cabinet", includes Gove, Javid, foreign minister Dominic Raab, Brexit secretary Steve Barclay, and attorney general Geoffrey Cox, and will meet every Monday.

"We will look after the farming sector ..."

Tomkins said: "One of the assurances Ruth Davidson sought from the Prime Minister yesterday, and which the Prime Minister was more than willing to give, is that we are of course preparing for the eventuality of a no-deal Brexit which nobody wants but at the same time there is no surrender here, we're not giving up".

Simon Derrick, chief currency strategist at BNY Mellon, said the no-deal Brexit shift had caught the market by surprise. She said Brexit would have an impact on the timing of a future referendum on Scottish independence.

The EU insists it won't reopen the 585-page withdrawal agreement it spent two years negotiating with Ms May's government, and particularly won't remove the "backstop", which is created to ensure the Irish border remains free of customs posts or other barriers.

"Investors' main concern remains a hard no-deal Brexit, which has the potential to pull the economy into chaos", said Fiona Cincotta, senior market analyst at City Index. I think what will stop it is a majority in the House of Commons.

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