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EU releases "no deal" contingency proposals as Brexit cliff looms

The European Commission published a series of contingency measures on Thursday to ensure that basic air and road connectivity are maintained in the increasingly likely event that a free trade agreement is not reached with the U.K. by the end of the Brexit transition period.

Why it matters: It's the surest sign yet that the U.K. is headed for a cliff-edge Brexit on Dec. 31, coming one day after Prime Minister Boris Johnson met with European Commission President Ursula von der Leyen in Brussels and failed to make progress on major sticking points.

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