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The EU and Britain are still fighting to conclude a trade deal. It was said from EU circles that negotiations on the deal would continue Thursday morning. The point of contention is again the fishing rights of EU fishermen in British waters.
Some observers originally expected a press conference by the British prime minister on Thursday morning to announce a deal. However, Irish Chancellor Simon Coveney reported in a radio interview about a problem with a small section of text on the subject of fishing.
According to a BBC journalist, representatives from both sides reviewed a list of more than 100 species of fish overnight. Details were negotiated on how many British and EU fishermen of what species they can catch.
I wait for a deal on Christmas Eve
French government circles said late Wednesday that the British had made “huge concessions” on the fisheries issue. An EU representative reported an ongoing “numbers dispute” over fishing rights, an EU representative said. He spoke of a “bad sign.”
Both parties had made significant progress in recent days and resolved major issues. A breakthrough seemed to be within our grasp on Wednesday. As the UK is only one part of the EU internal market until the end of the year, there is little time left for both sides to reach an agreement.
EU representatives said that despite the current dispute, they still consider it possible to get a degree on Christmas Eve. Several observers suspect that British Prime Minister Boris Johnson and EU Commission Head Ursula von der Leyen could announce the first details of a deal at separate press conferences later that day. The exchange rate of the euro and the pound rose in anticipation of a possible Brexit deal.
Earlier in the week, the EU rejected an offer from London to cut fishing quotas by as much as 60 percent during a three-year transition period. Brussels’ offer, on the other hand, was a cut of just 25 percent and a transition period of six years.
Fisheries of political and social importance for various countries
The British media recently reported a shorter transition period of five and a half years. Fishermen in the EU catch marine animals worth around € 650 million annually in UK waters. Despite its low economic weight, the sector is of great political and social importance for Member States such as France, the Netherlands, Denmark and Ireland. On the other hand, for many Britons, control over their own waters has become a symbol of sovereignty regained through Brexit.
Other central points of contention between the EU and Great Britain in recent months have been the competitive conditions for British and EU companies, as well as the legal control of a future deal.
Without a trade agreement, mutual trade would impose customs duties in accordance with WTO terms by the end of the year. Trade associations are expecting massive border congestion in delivery traffic, as well as disruption of important industrial supply chains, and are warning of billions in additional costs and lost revenue.
