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So you’ll understand it was Christmas so I had less time to wade through the deal detail.
But a small summary thread of why the EU is (quietly) congratulating itself this morning on the Brexit trade deal.
But a small summary thread of why the EU is (quietly) congratulating itself this morning on the Brexit trade deal.
2/
Since 4.5 years the EUs criteria has been clear:
1. Maintain EU access to UKs traded goods market
2. Maintain EU unity
3. Safeguard EUs role as regulatory super-power
4. Safeguard EU single market
The EU achieved all 4.
Since 4.5 years the EUs criteria has been clear:
1. Maintain EU access to UKs traded goods market
2. Maintain EU unity
3. Safeguard EUs role as regulatory super-power
4. Safeguard EU single market
The EU achieved all 4.
3/
The EU-UK trade deal safeguards EU access to U.K. market for traded goods where the EU has a massive surplus..
....but reduces access for services where the UK has a surplus with the EU.
Financial services business & jobs will now continue to drift to EU and away from UK.
The EU-UK trade deal safeguards EU access to U.K. market for traded goods where the EU has a massive surplus..
....but reduces access for services where the UK has a surplus with the EU.
Financial services business & jobs will now continue to drift to EU and away from UK.
4/
EU unity has been maintained - indeed the process has drawn the Union together. Possibly the only discordant notes were a few grumbles from fishing communities as a few extra fish were thrown towards the UK to sugar the deal.
EU unity has been maintained - indeed the process has drawn the Union together. Possibly the only discordant notes were a few grumbles from fishing communities as a few extra fish were thrown towards the UK to sugar the deal.
5/
EUs role as regulator is now confirmed. U.K. business will continue to abide by EU regulations.
UK adherence to EU criteria on state aid & LPF standards is confirmed with mechanism in place to punish UK transgression with tariff/access restrictions.
EUs role as regulator is now confirmed. U.K. business will continue to abide by EU regulations.
UK adherence to EU criteria on state aid & LPF standards is confirmed with mechanism in place to punish UK transgression with tariff/access restrictions.
6/
No final equivalence for financial services or acceptance of UK service qualifications/certification means that a “service business drain” to the EU is effectively baked-in.
No final equivalence for financial services or acceptance of UK service qualifications/certification means that a “service business drain” to the EU is effectively baked-in.
7/
One area where EU compromised was to increase UK fishing UK.
However these modest increased fishing industry rights - much less than UK fishing industry asked for - will likely be cancelled out by the increase costs UK fishing faces due to higher post-Brexit trade costs.
One area where EU compromised was to increase UK fishing UK.
However these modest increased fishing industry rights - much less than UK fishing industry asked for - will likely be cancelled out by the increase costs UK fishing faces due to higher post-Brexit trade costs.
