Failing to agree 'negotiated Brexit' could lead to instability, populism: Hammond

Leaving the European Union without a deal would represent a betrayal of the promises that were made during 2016's referendum, British finance minister Philip Hammond said on Thursday.

"Not leaving would be seen as a betrayal of that referendum decision. But leaving without a deal would undermine our future prosperity, and would equally represent a betrayal of the promises that were made," Hammond said in a speech to business leaders at the World Economic Forum in Davos. Hammond also warned that failing to agree a "negotiated Brexit" could lead to instability and populism.