President Macron tells Britain to dream on about getting a new Brexit deal

Earlier today France's President Emmanuel Macron met with his British counterpart and newly elected Prime Minister, Boris Johnson, in Paris to discuss Brexit.

Boris Johnson holding Brexit talks with French President Emmanuel Macron at Elysee Palace. Photo courtesy to Reuters

Johnson went into the meeting hoping to revitalize talks with the EU on a new vision of Britain's exit terms from the Union. Much like Wednesday's meeting with German Chancellor Angela Merkel, Johnson was warned by Macron about the risks of restarting Brexit talks with a looming October 31st deadline fast approaching.

British Prime Minister Boris Johnson and German Chancellor Angela Merkel heading for Brexit talks in Berlin Germany on Wednesday, August 21st

But in Johnson like fashion, the prime minister warned Macron about the consequences Europe might face if Britain leaves with no deal--to which Macron said, "the EU is ready for a no-deal scenario." Macron went on to add, "Britain's destiny is in your hands."

Johnson has already stated in the past that he's ready to walk away from the table with no deal if he doesn't get the terms he wants. But investors and economists say a no-deal scenario will just devastate the British pound.

The most contentious issue on the table is the Irish border. If Britain decides to leave the EU with the current deal, a hard border will be placed between the U.K's Northern Ireland and Ireland.

European leaders want to prevent a scenario of a "back door" for British goods to enter the EU's single market--which guarantees free movement without taxes.

Britain, on the other hand, says the EU's policy on the two once unified Islands violates the Good Friday Agreement, a deal that ended the civil war in Ireland and split the country in two-- with a promise to allow easy unregulated flow of goods and people between both Islands.

“Under no circumstances will the UK government be instituting, imposing, checks or controls of any kind at that border. We think there are ways of protecting the integrity of the single market and allowing the UK to exit from the EU,” Johnson said.

It's been three years since Britain voted to leave the EU. The deadline to leave has already been delayed twice. Now the EU has refused to budge on its October 31st deadline.

By: Niza Nondo