Tuesday, May 28, 2024

The United Kingdom and the European Union are extending Brexit talks until Sunday

Must read

Alan Binder
Alan Binder
"Alcohol scholar. Twitter lover. Zombieaholic. Hipster-friendly coffee fanatic."

After hours of personal discussions in Brussels, the two sides said Wednesday evening that they were still far apart on key issues and a decision on the future of the talks would be made by the end of this week.

For months, the European Union and the United Kingdom have been trying this Agreeing on a business deal Before the “transition period” for Britain’s exit from the European Union ends on December 31. Earlier this week, a joint statement by Johnson and von der Leyen pointed to three “critical” sticking points: Fishing rights, the UK’s ability to disagree on EU standards and legal oversight of any deal.

The last attempt to push the talks forward began on Wednesday with a meeting and continued over dinner.

Von der Leyen said in a statement after the meeting that negotiators would immediately resume work. She said, “We had a lively and interesting discussion about the state of play across the list of outstanding issues. We gained a clear understanding of each other’s positions. Still far apart.” “We agreed that the teams should meet immediately to try to solve these basic issues,” he added.

A top 10-ranked source told CNN that “there are still very large gaps between the two sides and it is still unclear whether these gaps can be filled,” but the prime minister “does not want to leave any path to a potential deal without testing.”

Failure to reach a trade deal could be especially painful for the UK, which is already reeling from the economic fallout from the coronavirus pandemic.

UK Office of Budget Responsibility (OBR), which issues economic forecasts to the government, He said in November Even if London and Brussels manage to reach an agreement, their new trade relationship is expected to result in a long-term production loss of around 4% compared to Britain’s remaining in the European Union.
But a no-deal Brexit would reduce production by an additional 2% in 2021, or about 40 billion pounds ($ 53 billion), and save more than 300,000 people. To the unemployment line By the second half of next year, according to the Balance Sheet Office.
See also  How to improve your online casino odds

Latest article