Monday night, according to EU sources, the weekend in London, the British-European trade talks are in “considerable difficulty”, “huge differences” still exist in three main areas. Subsequently, the pound against the dollar for a short period of nearly 30 points, but soon recovered to 1.3338.
During the day on Monday, there was news about the British-European negotiations, and in the evening the British Prime Minister’s spokesman said that the United Kingdom is still committed to reaching a free trade agreement with the European Union as soon as possible, but will not change the negotiating position. It was noted that the UK still believes that there are differences with the EU on fisheries and fair competition.
EU sources said that the EU negotiating team will remain in London for more talks in the coming days.
Compared to the news on Monday night, Monday afternoon, the British and European sides had also expressed optimism about the outcome of the negotiations. Irish Foreign Minister Coffney expressed confidence that the EU’s chief Brexit negotiator, Barnier, could negotiate a balanced agreement. Coffney also noted that
Obviously, the United Kingdom agrees that this is a critical week. We are running out of time and the agreement can be completed this week.
The U.K. Environment Minister also stated.
“We’re running out of time, but we’ve made a lot of progress and we think it’s possible to reach an agreement. If we make a lot of progress this week and we are close to an agreement, then it will be possible to extend the negotiations.”
British Foreign Secretary Raab said last Sunday that the U.K. and the European Union will enter a “very important” week as negotiations on a trade deal enter their final days, and both sides still have serious differences to resolve.
The main differences are over competition policy and the allocation of fishing rights. Previous negotiations have missed several deadlines, but the two sides have still not reached agreement.
Currently, there are only five weeks until the end of the Brexit transition period. The U.K.’s transitional Brexit agreement will expire on Dec. 31, during which time EU rules will continue to apply. The U.K. has said it will not seek any extensions. The Brexit agreement must be ratified by both sides, and there is no time for further delays.
Therefore, both Britain and the EU appear to be in a hurry this time. According to the Times, British Prime Minister Johnson is expected to call European Commission President Von der Leyen in the next 48 hours to try to reach a consensus on fishing quotas.
And EU negotiator Michel Barnier told reporters last Sunday that “work continues, even on Sunday,” on his way to a negotiating meeting.
As on previous occasions, this time there was good news again at a critical moment.
On 27th local time, Frost, Britain’s chief negotiator, said that an agreement was still possible.
“Time is running out, but an agreement is still possible. I will continue to negotiate until it is clear that there can be no agreement.”
Separately, British Foreign Secretary Raab said on Sunday that in recent negotiations, Brexit negotiators from Britain and the European Union had shown pragmatism and “good faith” and that “a deal is close”.
“The bottom line is …… generally, we need to reach an agreement in the next week or days.”
Earlier, he said some progress had been made on the “level playing field” clause, which aims to ensure a level playing field between the U.K. and the European Union, and said that fishing remains the most difficult issue to resolve.
Although fishing rights account for 0.1% of the UK economy, they have become an important issue for both sides. So far, the UK has rejected the EU’s proposals and insists that as an independent country, it must have full control over its waters.
“The EU must recognize this principle,” Raab told reporters.
However, there are some minor discrepancies in the EU’s stance. The EU’s chief negotiator, Barnier, stated.
“Major differences remain,”
Barnier said, adding that the two sides are still unable to agree on three main issues: fisheries, state aid and dispute settlement. Earlier last Sunday, Barnier, the EU’s chief negotiator, reportedly ended his self-imposed isolation. He said he would return to London to restart face-to-face consultations with Frost. Earlier, one member of Barnier’s team was diagnosed with neo-coronary pneumonia.
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