Brexit: UK has given ground on fishing quotas, says Michel Barnier

03 Décembre, 2020, 02:52 | Auteur: Auguste Feret
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Boris Johnson remains "optimistic" that Britain can get a post-Brexit trade deal, Downing Street has said amid warnings talks with the European Union have reached a "make or break" point.

A spokesman for Prime Minister Boris Johnson said Britain stood by the clauses in the legislation.

Speaking on condition of anonymity, the diplomat said Barnier did not specify a date by which an agreement must be clinched, but time will be needed for all 27 member states and the European Parliament to approve it before december 31.

Gove said the process was close to conclusion but avoided repeating an earlier prediction of a 66% probability of a deal.

According to participants, Mr Barnier also said the two sides were exploring a transitional arrangement for fishing rights, with the idea that any renegotiation at the end of that period would be linked to the two sides' overall economic agreement.

That said, the initial reaction to such an agreement would likely be moderately positive for UK assets as it would remove the major risk of the UK spinning out of the UK with no deal. "We will not accept a substandard deal which would not respect our own interests", the official said.

British finance minister Rishi Sunak called for "a constructive attitude and goodwill on all sides" so "we can get there".

Just 30 days before Britain leaves the EU's orbit following a transition period since it formally quit the bloc, the sides are trying to agree a trade deal to avoid a turbulent rupture that could snarl nearly $1 trillion in annual trade.

Even if a trade accord is secured, it is likely to be just a narrow deal on goods, and some disruption is nearly certain as border controls are erected between the world's biggest trading block and Britain.

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Irish Foreign Minister Simon Coveney warned Britain that if its finance bill, expected to be introduced to parliament next week, also breaches the Withdrawal Agreement, it would be taken as a signal that London does not want a deal.

The United Kingdom leaves the EU's orbit on December 31, when a transition period of informal membership ends following its formal departure last January, and the sides are trying to secure a deal to govern almost $1 trillion in annual trade.

"Barnier will be asked to relay the message to the commission the member states would like to have prior scrutiny of a possible agreement before closing it".

As we approach the end of the year, Brexit negotiations will be the most important factor for GBP and FTSE traders to watch. "In reality, this could mean that the United Kingdom could kick us out whenever they feel like it", with little or no consequences for Britain, the person said.

David McAllister, an MEP from German Chancellor Angela Merkel's Christian Democrats, said: "We are under time pressure".

The Frenchman said the next 72 hours will be crucial for the fate of the negotiations during a closed-door meeting of MEPs.

After the briefings, David McAllister, head of the European Union parliament's Brexit co-ordination group, said on Twitter: "We are very much aware that the work on level-playing field and state aid has entered the final phase". "We told him: don't do that".

The EU's chief negotiator Michel Barnier briefed ambassadors from the 27 member states on the latest negotiations amid little sign of progress on the key issues.

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