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Brexi: Last act before bankruptcy? EverybodyEurope, not just the UK, is on the verge of a possible, but difficult, deal before December 31st.
In fact, at the end of 2020 the transitional period ends and without a commitment on how to regulate relations between London and Brussels, chaos could fall on the old continent.
Updates speak of a journey of Boris johnson in Brussels today, December 8, in the umpteenth, and perhaps the last, attempt to undo the remaining knots.
EverybodyEuropean Union and the financial markets themselves view the negotiations with interest, hoping for a clarification between the two protagonists, until now very distant and not always conciliatory.
What is really going on with the Brexi?
Brexit: last hours of negotiations, what happens?
British Prime Minister Boris Johnson will travel to Brussels for urgent talks with the President of the European Commission. Ursula von der Leyen, amid growing fears on both sides that I business negotiations in Brexit they will fail.
The two spoke Monday night and agreed to meet after concluding that a deal is still some way off, despite frenzied attempts by their negotiators to break out of the stalemate for some time.
Both parties are still quite distant to reach a compromise, with “Significant differences”On the three key issues: fishing rights, rules for one fair competition me governance of the agreement.
The UK has drawn a very bleak picture, warning that the negotiations could be headed for failure. According to speculation, the British premier would have surrendered again 48 hours time to come to an understanding. Otherwise it won’t be a deal.
From London, in fact, rumors keep repeating the same refrain: There has been no tangible progress since the air turned sour last week and there is a good chance that a deal will not be reached.
Europeans are now pessimistic as well, and Irish Foreign Minister Simon Coveney said some countries are resigned to the idea that the RUK exits single market EU and customs union with no trade agreement, and the mood in the bloc is beginning to shift towards a Emergency plan.
Not only that, the EU-27 home front could oppose the same long-awaited compromise. There France has threatened a veto on any agreement that does not sufficiently defend your country’s fishing rights in British waters.
Both the European Parliament and the British Parliament must ratify any agreement before the end of the transition period. December 31st. Otherwise, London will be outside the Union without shared rules on key chapters, especially economic and commercial. And this could spell chaos and disadvantage for the EU.
Brexit effect for European markets?
The uncertainty and pessimism related to Brexi inevitably it is also affecting the financial markets of the main European Stock Exchanges.
the behavior of the indices of the old continent, in fact, should open lower also because the talks between the United Kingdom and the EU continue to produce little progress and time for an agreement is running out.
The London FTSE falls 19 points to 6,539, the German DAX 5 points to 13,262, the French CAC 40 points 5 points to 5,563 and the Italian FTSE MIB 21 points to 22,064, according to I G.
