EU's fishing firms likely to be hit hard by possible Hard Brexit

The European Union's Environment, Maritime Affairs and Fisheries Commissioner Karmenu Vela said on Friday the bloc was hoping to maintain reciprocal access to UK fishing waters after Brexit but was also preparing for the alternatives.

Vela told a news conference: "In case of a no-deal Brexit, EU fishing vessels would have to leave UK waters and UK vessels would have to leave EU waters. This would have significant negative economic consequences on the part of the EU fleet, which depends on access to UK waters."

Vela said the bloc's executive, the European Commission, would authorise state aid by EU states to their companies cut off from UK waters.