Ian Collins is Leading Britain's Conversation.
30 September 2017, 11:08
Alexander Downer said the EU had as much to lose from unsuccessful negotiations as the UK.
On the eve of Conservative party conference Theresa May has been told to walk away from Brexit negotiations by her MPs if the EU does not initiate trade talks before Christmas.
They say Britain has “nothing to fear” from a no-deal scenario and must not be “held to ransom” by the EU.
Australian High Commissioner Alexander Downer told Matt Frei the EU has as much to lose as the UK from such a situation.
He said: "In the UK the EU's stake is sometimes lost on people. The UK and the EU represent a very large economic entity, worldwide.
"If free trade is taken away from the EU and the UK as a result of Britain leaving and unsuccessful negotiations that will be a set back for the world, for the global economy.
"It is really important the EU negotiates a successful agreement with the UK, and obviously the UK does its part as well. It's not just about the UK it's also about the EU itself.
Watch the interview above.