Posted on 12/25/2020 6:30:01 PM PST by Berlin_Freeper
Britain’s trade agreement with the European Union removes a 4-1/2-year old fear of crashing out of the bloc without trading arrangements in place, but it will take UK financial markets years to lose their Brexit-inflicted scars.
(Excerpt) Read more at in.reuters.com ...
In other words the AP wants you to know what an awful choice the UK made, not submitting to full-blown eurotrash socialism. A warning to other countries, soon to follow.
The UK had an overall trade deficit of -£79 billion with the EU in 2019. A surplus of £18 billion on trade in services was outweighed by a deficit of -£97 billion on trade in goods.
I wonder what President Trump thinks about the deal but I understand he is very busy.
No Deal Brexit would have pushed the UK to increase making goods. Such a pity.
EU fishing in UK waters is reduced only 25%.
If the EU want UK fish why can’t they buy them - what’s up with that?
Kind of humiliating from a sovereignty point of view.
When the Brexit transition ends on 1 January there will be a new trade border between Northern Ireland and the rest of the UK.
They’re out. That’s the point. The EU has been exposed as the sham organization that it is.
10 years from now, it won’t exist any more. Plus, the brits have their souls back.
The EU got symbolic victories while UK got the right to set its own commercial laws while retaining access to the Common Market.
The Commission will not be able to crush innovative British companies/industries in the crib.
I would have preferred a Hard Brexit and just telling Macron/Merkle to pound sand but this ain’t a horrible result.
The Danish government pointed out:
Copenhagen plans to point to the UN convention on the law of the sea, which instructs states to respect the “traditional fishing rights” of adjacent countries within sovereign waters. The UK and Denmark are both signatories.
The so-called London convention on fisheries, which European states including the UK and Denmark signed in 1964, also recognises historical rights of access to the waters of the UK.
The Danish government also believes the quota system in the common fisheries policy provides evidence of historical rights, given they are based on traditional fishing patterns.
Niels Wichmann, the chief executive of the Danish fishermen’s association, which holds a place on the Danish ministry of food’s Brexit taskforce, said: “We have a common sea basin where we can fish. We have always had that.
“The British claim of getting back your waters is a nonsense, because you never had them. Maybe for oil or gas but not for fish.”
They were out on 1st February 2020. This is about a future trade deal
Overall the deal is pretty thin: many sectors are excluded, and services excluded entirely.
This brings us full circle: it was precisely because it would included services and not just goods that Margaret Thatcher persuaded a reluctant Common Market (as it then was) to adopt a Single European Market for all goods and services. Before then there had been no common market for services, and not all goods. Part of her grand plan to transform the UK from a manufacturing-dominated to a services-dominated economy. The Single Market, now seen by the EU as its crown jewel, was essentially a British invention. So it goes.
It is incredible how much of the EU is thanks to Britain. The expansion east was a British initiative and it served very well for the British as well as for thr rest of the EU
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