Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

UK, Ireland say breakthrough needed in Brexit talks this week

EconomyNov 15, 2020 08:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. Weekly cabinet meeting at Downing Street in London 2/2

By William Schomberg

LONDON (Reuters) - There has to be a breakthrough this week on a post-Brexit trade agreement, British and Irish ministers said on Sunday, as London's top negotiator went back into talks saying progress had been made in recent days.

Without a deal, around $1 trillion worth of trade would be at risk of disruption through tariffs and tougher rules after the Dec. 31 expiry of Britain's transition period for leaving the European Union.

That would deliver a fresh economic shock just as Britain and the EU are struggling to contain the economic fallout from the COVID-19 pandemic.

"This needs to be a week when things move, when we break through some of these difficult issues and get a resolution and at least have some sort of headlines, if you like, of an agreement," British environment secretary George Eustice told Sky News on Sunday.

Irish foreign minister Simon Coveney said time was running out for a deal.

"We have got to make big progress this week," Coveney told Sky. "This is very difficult but it is also very doable."

NORTHERN IRELAND

The negotiations have already missed several deadlines and remain stuck on issues such as fishing quotas, state aid rules and how to settle future disputes.

Britain's top Brexit negotiator said "some progress in a positive direction" had been made in recent days.

"We also now largely have common draft treaty texts, though significant elements are of course not yet agreed," David Frost said on Twitter as he arrived in Brussels to meet his opposite number Michel Barnier.

"We will work to build on these and get an overall agreement if we can. But we may not succeed."

Coveney said London had to back down from its plan to pass legislation for trade between British-ruled Northern Ireland and the rest of the United Kingdom in the event of a no-deal Brexit.

London has acknowledged the bill could violate international law by over-riding the divorce agreement it previously agreed with the EU.

"There's no way the EU will agree to ratify a new agreement if the British government is breaking the existing agreement that's not even 12 months old and breaking international law by doing that," Coveney said.

Eustice said the British government planned to press ahead with the legislation.

U.S. President-elect Joe Biden has said Brexit must not undermine the U.S.-brokered 1998 "Good Friday" peace deal for Northern Ireland, comments that have been seen as a warning to London over the bill.

Former British prime minister Gordon Brown said Biden's victory would push Britain to agree a trade deal with the EU, avoiding the need for the legislation.

"I think the arrival of Joe Biden has made all the difference," Brown told BBC television.

UK, Ireland say breakthrough needed in Brexit talks this week
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email