Work Begins on Brexit Treaty

Work on the Brexit treaty is well underway, but Maichel Barnier has announced that he plans to step down as the EU negotiator, before trade negotiations are finished.

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shareprices.com - Tuesday, October 24, 2017

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Barnier says that he would step down in the Spring following the March 2019 deadline, but before the end of the transition deal that has been proposed to allow for more EU/UK trade deal discussions. He conceded that the trading relationship between the EU and the UK was the most important part of the negotiations, and added that talks over how trade would work could take years.

Theresa May issued a new threat yesterday to leave the EU without a deal, but Barnier warned that such a move would have disastrous consequences, including leaving British aircraft unable to gain authorisation to take off or land at airports in Europe.

He added that Europe does not wish for the UK to leave without a deal, and that they are not working on that assumption, but that no possibility is being excluded. He said that such a scenario would cause serious problems for both sides, so would be best avoided.

The deadline for Article 50 is the 29th March 2019, and there are many issues that need to be discussed before the exit is triggered - trade is just one of the issues. The fate of European workers in the UK, and UK citizens currently in Europe, is another thing that is currently under discussion as a part of the exit deal.

 

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