UK, EU leaders to meet face-to-face to attempt to seal Brexit trade deal
08 December, 2020
British and EU leaders will match face-to-face to try to seal a post-Brexit trade offer just after failing again to narrow their differences on Monday (Dec 7), increasing the opportunity of a disorderly parting of ways towards the end of the month.
With only over three weeks before Britain completes its journey out of the bloc, a senior UK government source said there was "every chance we will not get there" and EU officials said, if anything, negotiations had opted backwards.
Since Britain left europe in January, both sides have been stuck over three issues, raising the chance of what various businesses say is their nightmare scenario - simply no agreement to govern around US$1 trillion in gross annual trade.
Primary Minister Boris Johnson might travel to Brussels to meet up European Commission President Ursula von der Leyen, the timing which has yet to end up being confirmed, found in what some say will be a previous roll of the dice to secure a trade deal.
But he is not likely to time his visit to coincide with an EU summit on Thursday and Friday.
Irish Foreign Minister Simon Coveney said negotiators face a Wednesday deadline, prior to the summit, to prevent a "no-deal" situation when the UK leaves the EU's orbit on Dec 31, which would hit both sides' economies and compound the pain of the COVID-19 pandemic.
Leaders of the 27 EU member states have got agreed to stage up contingency planning the consequences of a "no package" on their economies when they meet up with for the summit.
"The types of conditions for an agreement aren't there because of remaining differences on significant issues," von der Leyen and Johnson said in a joint statement after their phone, which followed an equally fruitless conversation on Saturday.
"We asked our chief negotiators to get ready an overview of the rest of the differences to be discussed personally in the coming times," they stated. The EU Commission spokesman stated Johnson would happen to be Brussels for the meeting.
A senior UK government supply described talks as being "in the same job now because they were on Fri. We've made no tangible progress".
"It's very clear this must right now continue politically. Whilst we usually do not consider this procedure to be closed, issues are looking very difficult and there's every prospect we will not get there," the foundation said.
POUND TUMBLES
The British pound tumbled, showing how investors are burning off confidence that a package will be reached.
Britain, which joined the EU found in 1973, formally left the bloc on Jan. 31 but has been around a changeover period since then under which guidelines on trade, travelling and business remain unchanged.
For weeks, both sides have already been haggling over fishing rights in British waters, ensuring reasonable competition for companies and methods to solve foreseeable future disputes. Both have referred to as on each other to compromise to obtain a deal over the collection.
Failure to secure an arrangement would clog borders, upset financial market segments and disrupt delicate supply chains across Europe and beyond seeing as the world attempts to cope with the vast economic price of the COVID-19 pandemic.
With simply days left to attain an agreement and obtain it approved, most EU and UK sources agreed it had been today time for the political leaders to step in and make the decision on whether to shift their positions enough to permit for a breakthrough.
Within an olive branch to the EU, Britain said it might take out clauses in legislation that could breach its Brexit deal, signed just a few months ago with the EU, and would analyze provisions in another bill if talks on the Withdrawal Agreement progress.
Britain admits the clauses breach international rules but says they are an essential safety net that could ensure the integrity of the United Kingdom.
Source: www.channelnewsasia.com