Wednesday, 21 October 2020

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Economy
17 Oct 2020

British PM faces tough EU trade deal

Foreign Affairs News Desk
Foreign Affairs News Desk
British Prime Minister Boris Johnson. Twitter Photo
British Prime Minister Boris Johnson. Twitter Photo

British Prime Minister Boris Johnson has said the United Kingdom should prepare for Brexit to take place in 10 weeks, even in the absence of a trdae deal with the European Union which he claimed was failing to take negotiations seriously.

EU officials said that the lack of progree in summit talks was concerning and that a rupture would happen at the beginning of next year if the UK does not concede on major sticking points.

“Get ready for January 1 with arrangements that are more like Australia’s based on simple principles of global free trade,” said Johnson.

Though discussions appeared on the brink of breaking down, European Commission President Ursula von der Leyen suggested that there would be more time next week to sort out the disagreements.

Britain technically departed the EU on January 31, 2020 but a transition period is set to end December 31 after which the UK is to leave the EU single market and customs union.

EU leaders have said they will not offer the UK an arrangement similar to that with Canada, fearing the competitive challenge London poses.

German Chancellor Angela Merkel, Europe’s most powerful leader, said both sides nee to compromise in order to ensure peace in Ireland and to fortify the EU economy.

(With inputs of agencies)

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