Connect with us

Hi, what are you looking for?

Top News

The UK and the European Union may be close to signing an agreement

British Prime Minister Boris Johnson (left) received European Commission President Ursula von der Leyen (right) at the Berlaymont Building at the European Union headquarters in Brussels on December 9, 2020.

Olivier Hussleit | Agence France-Presse | Getty Images

LONDON – A few days before the end-of-year deadline, Britain and the European Union may be close to signing a long-awaited post-Brexit trade deal.

Michel Barnier, chief Brexit negotiator for the European Union, said on Tuesday that the bloc was making a “final push” to reach a trade deal with Britain before December 31.

“We are really at a critical moment,” Barnier told reporters, on his way to brief the 27 ambassadors. “We give it one final push. In 10 days, the UK will leave … the single market.”

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen have embarked on a series of “hotline” talks, the Financial Times reported Wednesday, to try to agree a deal before the end of the day.

However, disputes remain over hunting rights and many other issues.

The European Union wants to maintain access for its fishing fleets to UK waters, while the UK wants to significantly limit these fishing rights. The scenario of failure to reach an agreement could see the European Union ending its access to UK waters suddenly, and vice versa, and the UK has already threatened to deploy gunboats to protect British waters.

There are concerns that some fishing fleets might ignore any restrictions, leading to potential clashes. This has never been heard of before. Physical skirmishes called “scallop wars” have occurred between British and French fishing fleets in recent years amid disputes over hunting.

See also  The U.S. state number 51 can be created

British Housing Secretary Robert Jenrick told Sky News on Wednesday that “serious areas of contention” remain, over fisheries and creating a “level playing field” for companies.

“I am still reasonably optimistic, but there is no news to report to you this morning,” he said. “At the moment there is not enough progress. It is not a deal that the prime minister feels he can sign. “

However, there have been positive reports of Brexit talks in the past 24 hours, with ITV political editor Robert Piston claiming on Tuesday that a deal could be reached on Wednesday.

The pound rose about 0.5% against the dollar to $ 1.34 as traders bet on signing a deal.

If Britain and the European Union fail to agree to a deal by Dec. 31, the two sides can impose border taxes and import taxes on each other’s goods, as the trade will return to WTO terms. This may lead to price changes in supermarkets and stores.

Britain officially left the European Union on January 31, 2020, but the leaders were given 11 months to agree on the rules that will dictate life in the UK and Europe after Brexit.

CNBC’s Holly Ellyat contributed to this article.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...


A dangerous application appeared in the Apple App Store disguised as a known program. reported the Based on TechCrunch article. Dangerous app in...


Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...

Copyright © 2024 Campus Lately.