Brexit Shows Cost of Leaving Single Market is Exorbitant - Frenсh Fin. Minister

On November 15, UK Prime Minister Theresa May announced that the government had approved a draft Brexit agreement with the EU.

French Finance Minister Bruno Le Maire has said Brexit shows that the cost of leaving the single market is exorbitant.

"The choice for British politicians who have pleaded for Brexit is now between the denial of their absurd political promise or the economic disaster which will claim the British people as its first victim," he said.

READ MORE: German FM ‘Very Happy' About UK, EU Reaching Preliminary Accord on Brexit

Earlier in the day, Theresa May confirmed that Britain would leave the European Union, in line with the schedule.

After more than a year of tough talks on Brexit conditions, London and Brussels have finally produced a draft agreement on the conditions of the British divorce from the bloc.

In June 2016, the United Kingdom voted to leave the European Union in a referendum and is expected to do so by late March 2019, while there are still certain stumbling blocks that impede talks, namely, the Irish border and the post-Brexit UK-EU economic relations, which make a no-deal Brexit scenario a possibility.