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London still has hope of an agreement with the EU

by Financial Economy

London still has hope of an agreement with the EU. Is there still something moving? The British chief negotiator David Frost reports progress in the Brexit negotiations. There is not much time left for an agreement.

London still has hope of an agreement with the EU

In June 2016, the British voted to leave the European Union, but more than four years later there is still no agreement on exactly how relations between London and Brussels should be regulated. There is not much time left now.

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Despite the seemingly endless hangover: British Brexit negotiator David Frost still believes in an agreement. Frost sees progress in negotiating a trade pact with the EU. “There has been some progress in a positive direction in the last few days,” wrote Frost on Twitter shortly before arriving for a new round of talks in Brussels on Sunday. “We now largely have a common text of the contract, although there is of course still no agreement on significant points.”

The European Union, however, complained about a lack of movement after the last round of negotiations. The same issues have been stuck for months – including the rules for EU fishermen in British waters and common competitive conditions.

On Sunday afternoon, Frost wanted to start a new round of negotiations with EU negotiator Michel Barnier. “We have negotiated almost every day since October 22,” tweeted the Briton. Time is running out. Several deadlines have already been broken. A trade agreement would have to be ratified on both sides before it can come into force at the turn of the year.

Great Britain had already left the EU at the end of January. Until the end of December, however, there is still a transition phase in which largely the same rules apply as before. Without an agreement, there will be tariffs, traffic jams at the borders and other trade barriers. The negotiations could continue to fail, Frost warned on Twitter. Companies should prepare.

Source: https://www.spiegel.de/

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