Tuesday, 24 October 2017

UK will settle for trade deal with EU similar to Canada, Michel Barnier warned



The UK will have to settle for a trade deal with the EU similar to Canada, Michel Barnier has warned.
 
The EU's lead negotiator suggested the UK's decision to leave the single market and customs union meant any deal would "have to work on a model that is closer to the agreement signed with Canada".


Theresa May had ruled out a Canada-style deal in her Florence speech last month.


The UK will have to settle for a trade deal with the EU similar to Canada, Michel Barnier has warned.
 
 
The EU's lead negotiator suggested the UK's decision to leave the single market and customs union meant any deal would "have to work on a model that is closer to the agreement signed with Canada".


Theresa May had ruled out a Canada-style deal in her Florence speech last month.


Speaking to French newspaper Les Echoes, Mr Barnier said a transitional period would "leave us more time to prepare for the future relationship", as he raised the prospect of Brexit talks lasting well beyond the UK's formal departure.


"The two phases are difficult. The second will be very different and will last several years," he said.


"It is truly unique because instead of promoting regulatory convergence, it will aim to frame a difference.
 
 
"It will involve risks, including about its political ratification, making all the more necessary transparency around these topics."


On whether a transition deal was now a certainty, Mr Barnier said: "If we reach an agreement on the orderly withdrawal of the UK, such a period, both short and framed, is possible.


"To my mind, it makes sense that it covers the financial period, so until 2020."




SKY   News.