Arancha González has been praised for concisely summing up why trade talks between Britain and the European Union are failing.
The Spanish foreign minister pointed out that trade agreements are made to establish one’s interdependence, not independence, which is likely to have been the key barrier to progress.
The UK and EU refused to set a new deadline following a decision to continue discussions, but time is tight for a deal to be reached and approved by the end of the month when current arrangements expire.
There was fresh hope on the prospect of a deal after Boris Johnson and Europe’s top official Ursula von der Leyen agreed to “go the extra mile” and continue discussions beyond Sunday’s initial deadline.
But Boris Johnson continued to warn that a no-deal outcome was still the most likely scenario.
He said the country should get ready for the breakdown of talks, resulting in tariffs under World Trade Organisation (WTO) terms from January 1 – a move that is predicted to cost jobs, cause food prices to rise and wipe £45 billion off the economy next year.
“The most likely thing now is, of course, that we have to get ready for WTO terms, Australia terms,” the Prime Minister said.
Fisheries have been one of the main sticking points in the discussions, largely due Britain’s will to ‘get its sovereignty back’.
Indeed, Royal Navy boats have been put on standby to patrol British fishing waters in the event of a no deal Brexit, even though most of the fish caught in UK waters goes abroad and a French firm is responsible for monitoring activity.
This, by Spanish Foreign minister @AranchaGlezLaya, is absolutely superb. The clearest expression of the problem I’ve heard. The UK is trying to use a trade deal to do something it’s not designed to do. This, fundamentally, is why negotiations have failed.
— Alex Andreou (@sturdyAlex) December 13, 2020
Well worth sharing. pic.twitter.com/23zpjbgCSH
Related: Cost of Test and Trace could pay for fishing industry’s contribution to economy for next 49 years
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .