European Union deal falls 'far short' say fishermen

20 March, 2018, 03:17 | Author: Elaine Woods
  • GETTYDavid Davis and Theresa May will be tying up a few loose ends next week

The diplomat also said a "broad agreement" on the Irish border has been reached, although there are some details which still need to be finalized, and added that "final texts" have been negotiated and agreed regarding the rights of expatriates and the UK's financial settlement to the union.

Michel Barnier said he and Mr Davis have made a "decisive step" towards agreeing a joint legal text on the UK's European Union withdrawal.

The terms of an agreement on the transitional period is expected to be signed off by European Union leaders at a summit this week.

The two sides announced an agreement has been reached on the relationship between both sides until the end of 2020, nearly two years after Britain ends its membership next March.

That's why it's so important that small firms have access to the European talent they need beyond Brexit day, and EU workers arriving during the transition period have their rights protected.

This all hangs on agreeing to the draft December withdrawal treaty, which included the backstop clause to guarantee there would be no new border in the North even with a disorderly Brexit.

'We will leave the European Union and leave the CFP, but hand back sovereignty over our seas a few seconds later.

The transition period will include an "intense and demanding" negotiation period to set the future relationship between the two sides, Barnier said.

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"Both sides should commit now to a finite adjustment period once a new trade agreement has been finalised", the Institute of Directors said in a statement.

But there was fury in Tory ranks amid claims that there had been a betrayal of the UK's fishing industry and the transitional deal would leave Britain bound by rules from Brussels it no longer had a say in.

"We agreed today that the backstop solution must form part of the legal text of the withdrawal agreement", Barnier said.

"It's now up to the member states to assess this progress in order to adopt guidelines which will enable us to start in parallel to discuss with the United Kingdom on a framework for a future relationship", Barnier said.

Tanaiste Simon Coveney earlier tweeted a picture of him meeting Mr Barnier saying negotiations were "moving forward". Thereafter, it will not be a part of any of EU's regulations. "Until the appropriate technological solutions can be found, then the option of a regulatory backstop must be left on the table".

"It is an global agreement between the United Kingdom and the European Union".

Unsurprisingly, the announcement served to elevate the price of sterling, as the pound hit a two-month high against the euro rising by 0.63%, with one pound equalling €1.1413. The agreement of a status quo transition period is great news for trading firms on both sides of the Channel, as it means that they will face little or no change in day-to-day business in the short term. The first round ended with Britain reluctantly agreeing to follow the EU's timeline for the rest of the negotiations.

But Scottish Tory MP Douglas Ross said: "There is no spinning this as a good outcome, it would be easier to get someone to drink a pint of cold sick than try to sell this as a success".

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