Brexit discussion with opposition reduces the hard Brexit pace

British Prime Minister Theresa May's decision to open Brexit talks with the opposition Labour Party has reduced the chances of the UK crashing out of the European Union without a deal, Irish Finance Minister Paschal Donohoe said on Wednesday.

"The statement last night from Prime Minister May was a very significant moment" that reduces the chances of a no-deal Brexit, Donohoe told Ireland's RTE radio. But he said the risk of a no-deal Brexit remained significant.