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At today’s meeting of the ambassadors of the member states, the European Commission commissioner indicated that they should be ready as of Thursday morning for the adoption of the agreement text of about 2,000 pages as soon as possible, Reuters said after 15:30 hours. Later, an EU diplomat indicated that a deal was really imminent, it was more a question of whether to announce it today or tomorrow.
He indicated that rapid adoption by member states was necessary because the European Parliament could no longer approve the agreement this year as it no longer had a plenary session (if an agreement had been reached before midnight on Sunday, they could still having summoned it). Therefore, the EP will only be able to ratify the agreement afterwards, which, according to the previous news, could be applied from 1 January.
Meanwhile, the British newspaper The Sun has also been informed that the parties have essentially reached an agreement, only the disputes over electric cars hold the final agreement and the actual agreement will be announced today or tomorrow.
As we wrote in the morning: It was highly uncertain whether the deal would be finalized before Christmas, if at all. There were many indications that rapid negotiation was not possible because disagreements were still high in key areas (fisheries, dispute settlement, level playing field). It is not yet known what will happen to tariffs and other barriers to trade due to subsequent EP approval as the parties will temporarily impose on each other (as in the absence of a ratified deal the UK will be an external third party from January 1 and will be subject to WTO rules). trade) or not.
The latter is likely to be the last, as in the first scenario described in our morning article, there is a chance (although it raises legal questions) that the parties will ignore it because they would just have to charge each other anyway.
Market reactions
In the initial announcements, a significant strengthening of the fund began, the performance of German government securities as collateral also rose from the negative range, and the major European stock indices also faltered.
Cover Image Source: Steve Taylor / SOPA Images / LightRocket via Getty Images
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