ISTANBUL

A no-deal Brexit would be a disaster for all parties and it should be avoided, the head of a European business lobby group warned on Monday.

"A disorderly, no-deal exit of the U.K. would be extremely harmful for all sides," Markus Beyrer, the director-general of BusinessEurope, which represents business federations in all EU countries, said in a press release.

He underlined that a no-deal scenario would make traveling more difficult, push prices higher, and make uncertainty mount EU-wide.

"The negative consequences would not be limited to the exit date but would drag on, endangering the fruitful and positive future relationship we all aim for," he added.

He further warned that a no-deal Brexit would be damaging to the single market, relationships between the U.K. and EU countries, the bloc's borders, and companies' work.