Fisheries Will Be Another Brexit Obstacle
EU-UK talks of the last two weeks haven't produced anything at all
Skerdian Meta•Wednesday, October 21, 2020•2 min read
The UK and the EU are working on getting a trade deal sorted out, although the comments aren’t pointing to anything in particular. Among other issues, fisheries will be another obstacle in the way of reaching a trade deal. There have been some positive comments in the last few weeks, as talks resumed after the coronavirus hype, but it doesn’t seem like anything has been agreed upon so far, so we are back were we were in summer.
EU Vice President of Inter-institutional Relations, Maroš Šefčovič
- There is no time to lose
- The goal is still to reach a deal
- We will continue to work for a deal, but not at any price
- No fair deal on trade without a fair deal on fisheries
- A new agreement is not possible unless the last one is properly respected
- Now is the time for responsibility
The headline mainly echoes Barnier’s remarks earlier, that both sides still need to find a way to compromise on a level playing field, in terms of fisheries and governance, otherwise there is no point in agreeing on any other aspects of the negotiating process. Essentially, all of the happenings of last week ended up being theatrics, more than anything else, as they simply brought us back to the same predicament as we had before the European Council meeting. It seems like whatever has transpired over the past week or so was pretty much a waste of time. We’re essentially back to where we started in October, and this is just about as Brexit as things can get.
Comments by EU chief Brexit negotiator, Michel Barnier
- Our stance on Brexit will not change
- We want a Brexit deal, but not at any cost
- We remain firm, determined, and will seek necessary compromises until the last day
- Ready to discuss all subjects on the basis of legal text
- An agreement is within reach
- Time is of the essence and is running out, progress needed in the coming days
We have heard all of these remarks before in the past, and yet, here we are. That said, the pound at least seems to be liking the narrative that both sides appear to be continuing talks, as there is more clarity about the current situation.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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