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The European Union is considering a new proposal on UK fishing rights as British Prime Minister Boris Johnson tries to secure a last-minute trade deal, Bloomberg reported Monday.
Under the latest proposal, the UK is willing to allow EU vessels to retain two-thirds of their catches, according to the report. Last week, the UK insisted that the EU accept a 60 percent cut, the report added.
In recent days, the EU has offered a 25 percent cut during a six-year transition, a proposal that France is deeply uncomfortable with and which has sparked outrage from the bloc’s fishing industry, according to a report by the Financial Times.
Earlier on Monday, French European Affairs Minister Clement Beaune said significant obstacles on fishing remain in the Brexit talks and that Britain’s proposals are so far unacceptable to France.
Red lines
The French government previously said it was sticking to its “red lines” when it came to the EU’s rights to fish in British waters.
Johnson said Monday there are still problems in trade talks and Britain will prosper without a deal.
Britain says it is stuck on two issues, so-called level playing field and fishing, and has repeatedly said the EU has to give in or there will be no deal.
Failure to reach an agreement on trade in goods would create shock waves in financial markets, damage European economies, ruin borders, and disrupt supply chains.
Unless Johnson can reach a trade deal with the EU in the next 10 days, the UK will leave the bloc’s informal membership on Dec. 31 at 11 p.m. without one.
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