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During their video summit on Thursday, EU leaders received an update on progress in Brexit negotiations with Britain. But with only six weeks to go in the transition period between the two sides, Belgian Prime Minister Alexander De Croo has urged Brussels to step up contingency planning for a no-deal Brexit. He said: “We cannot keep expecting a good result. There may be one, but waiting alone is not enough. We have to start our contingency planning.
“French President Emmanuel Macron and Dutch Prime Minister Mark Rutte have made similar statements.”
De Croo also warned that Belgium, France and the Netherlands would be some of the EU member states hardest hit by Brexit.
Dutch Prime Minister Rutte told a press conference: “Together with some other countries, I have now insisted, in parallel with the negotiations, on greater clarity from the Commission on its proposal on European contingency measures.
An official in Macron’s office said the French president “spoke about Brexit contingency planning in his introduction and then moved on to COVID. He mentions it regularly. “
Another EU official also confirmed that Macron had called for the no-deal preparations to be stepped up, according to Politico.
Until now, the European Commission has been quiet about its no-deal contingency plans, as many believe this could signal to the UK that Brussels has lost faith in the negotiations.
These latest warnings come when direct talks on Brexit were suspended after a member of the EU team tested positive for coronavirus.
Both negotiating teams are now working remotely on a final effort to close a post-Brexit trade deal that would take effect on January 1, 2021.
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8.18am update: Britain wants to be ‘the world’s most open and competitive financial services center’
UK ministers will launch an investigation aimed at ensuring its financial services can remain competitive around the world when the country completes its exit from the EU.
Britain’s full access to the bloc ends on December 31, with 500 jobs and assets worth around £ 1 trillion already leaving the City of London for new EU financial centers.
The investigation will build on reforms outlined by Chancellor Rishi Sunak earlier this month that include making UK listing rules more attractive, modifying insurance capital rules and a sales tax exemption for £ 800 million worth of financial exports to the EU.
The ministers will consider the immigration policy and skills that UK financial services will need as banks fear they will no longer be able to easily recruit talent due to tighter immigration controls after Brexit.
The research will also look at how regulators should be funded and whether they should have goals that include broader public policy issues, such as consumer interests.
Mel Stride, chairman of Parliament’s Treasury Select Committee, told TheCityUK national conference: “We will make a number of recommendations on how government, public bodies and the industry itself can ensure that the UK remains a financial center for first level.
“We want to become the most open and competitive financial services center in the world.”
7.50am update: Michel Barnier hatches a plan to strike a Brexit deal beyond Macron amid fears of an EU takeover
Michel Barnier could be forced to draft a special “declaration” to convince concerned EU states that any trade deal with Britain is not a Brussels takeover.
Sources said a handful of leaders, including French President Emmanuel Macron, were concerned that the deal could be passed without proper scrutiny.
One source said the EU’s top negotiator could prevent a possible rebellion by producing a “statement” reassuring capitals that the Brexit trade deal does not infringe on their national powers.
The document would include promises that any provision of the pact is a “one-size-fits-all” measure to protect trade and security ties with Britain.
Express.co.uk understands that France and Italy have already raised concerns that there is insufficient time to translate the legal text into their languages.
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