Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

With the clock ticking, Britain, EU play up chance of deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/19/2017 | 10:06pm CEST
The European Union's chief Brexit negotiator Michael Barnier (C) walks with Britain's Secretary of State for Exiting the European Union David Davis (3L) at the European Commission ahead of their first day of talks in Brussels, June 19, 2017.

The British and EU Brexit negotiators agreed how to organise talks on Britain's divorce at a first meeting in Brussels on Monday, where both sides stressed goodwill but also the huge complexity and tight deadline.

"We've laid solid foundations for future discussions and an ambitious but achievable timetable," said David Davis, Britain's Brexit minister, adding he was "encouraged" by the first talks. But the European Union's Michel Barnier made clear little was agreed but an initial calendar and a structure for negotiations.

The talks began almost a year to the day after Britain shocked Europe by voting to cut loose from the 28-nation EU, its biggest market.

They also come three months after Prime Minister Theresa May locked Britain into a two-year countdown to Brexit in March 2019. Perhaps more important, they begin just 10 days after a humbling election setback revived divisions within May's government on what kind of relationship it wants with the EU.

Davis brushed off a suggestion that a weakened Conservative government had dropped objections to a Brussels timetable, which would deal first with EU priorities, including its demand Britain settle a "Brexit bill", and leave the talks on free trade that May wants until at least late this year.

Davis insisted that talks about trade would occur "in parallel", but Barnier said they would start only in a second phase. First, "significant progress" would need to be made on the EU's priority issues, notably the rights of expatriate citizens and a settling financial accounts. An EU official said Britain still refused to accept it would owe Brussels anything.

EU officials believe, however, that May and her ministers are coming round to accepting Brussels' rules. For one thing, renewed debate in her cabinet on how far to go with her clean break from the single market and customs union has made it hard to present a coherent set of demands in Brussels.

Uncertainty over the future trading relationship also means that special status in the talks has been given to discussions on how to limit the impact on peace in Northern Ireland from the creation of a new EU-UK border with the Irish Republic.

IRELAND - A SPECIAL CASE

Three negotiating groups will address agreed priorities on citizens' rights, finances and other technical matters which must be resolved to avoid a messy limbo after Brexit. The Irish issue, long described as a priority for both, will be treated somewhat differently; avoiding a "hard border" will necessarily have to take account of how the rest of EU-UK trade will work.

Though less visibly upbeat than veteran Brexit campaigner Davis, Barnier insisted the two sides would work together for a "fair deal" that would not "punish" Britain. But he also refused to discuss concessions to Britons who, in the eyes of most EU leaders, are committing an act of self-harm.

"It is the United Kingdom that's leaving the European Union, not the other way around," Barnier said sharply, speaking of "unravelling" 44 years of relations. "Everyone must accept their responsibilities, the consequences of their decisions ... So my mind is not on making concessions or asking for concessions."

May herself will be in Brussels on Thursday and Friday for a regular summit with fellow EU leaders. Davis said she will tell them about plans to guarantee rights for some 3 million EU citizens in Britain under a proposal to be made next week.

As with Monday's seven hours of meetings between Barnier, Davis and their teams, her emphasis is expected to be on easing tensions that have seen some spiky exchanges in recent months.

Davis and Barnier, who chatted in English over lunch but used interpreters for some of their more serious talks, made use of their shared love of hill-walking to lighten the mood.

They exchanged gifts -- a walking stick from Barnier's native Alps for Davis, a French mountaineer's memoir in a valuable first edition from the Briton to the Frenchman.

And at a final news conference they traded quotes from their respective nations' history: Barnier cited EU founding father Jean Monnet to say: "I am neither optimistic nor pessimistic. I am determined." Davis channelled Winston Churchill: "The pessimist see difficulty in every opportunity, the optimist sees opportunity in every difficulty. And so bridging between Churchill and Monnet, I am certainly a determined optimist."

(Additional reporting by Gabriela Baczynska, Jan Strupczewski and Charlotte Steenackers, editing by Larry King)

By Alastair Macdonald and Elizabeth Piper

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
09:13a TATA TATA SONS : Steel facilitates stakeholder consultation by IBM for deciding threshold value of minerals for eastern states
09:08a MINISTRY OF FOREIGN AFFAIRS OF RUSSIAN FEDERAT : Press release on the meeting of co-chairmen of the Russian-Chinese Dialogue on Security in Northeast Asia
09:08a MINISTRY OF PETROLEUM AND NATURAL GAS OF REPUB : Global Crude oil price of Indian Basket was US$ 50.97 per bbl on 21.08.2017
09:08a MINISTRY OF FOREIGN AFFAIRS OF RUSSIAN FEDERAT : Press release on Deputy Foreign Minister Igor Morgulov’s participation in a session of the Russian-Chinese interagency working group for aligning integration initiatives
09:03a DEPARTMENT OF TREASURY AUSTRALIAN GOVERNMENT : Small business, consumers central in transition to dispute resolution
08:52a Italy, France, Germany ask EU to boost powers to block foreign acquisitions -reports
08:48aDJWHAT'S NEWS : World-Wide -- WSJ
08:48aDJWHAT'S NEWS : Business & Finance -- WSJ
08:43a ISE IRISH STOCK EXCHANGE : Petrofac sells stake in Pánuco contract
08:43a 4LIFE RESEARCH LLC : Indonesia Launches Seven Products
Latest news "Economy & Forex"
Advertisement