Britain’s exit from the European Union still remains an enigma among the long-drawn debate and negotiations that have been hard-playing for quite a few years now, with no concrete decision coming to the fore. It seems Europe is getting ready, not to battle the winter days ahead but the heated talks over Brexit.
However, the ongoing Brexit trade negotiations seem to reach no reprieve. With the target date of January 01, 2021, closing in, it appears as being one of the most challenging days for the EU for decision-making. Michel Barnier, the EU Chief Negotiator, has been endeavoring hard to bring the firm-pitched talks to a logical conclusion giving brownies to both sides with an early-morning briefing session of the 27-member state conglomerate of European Union.
The talks were to be followed by a second phase call with EU Commission Chief Ursula von der Leyen shortly after the debriefing with British PM Boris Johnson. It goes without saying that this disengagement could cost very dearly to both contenders and will bring down severe repercussions.
With Pandemic already shaking the roots of all world-economies, it needs to be seen who calls the shots first between the two behemoths. Needless to say, either way, it would result in massive unemployment and shall be unsettling the cross-channel trade foundation on both sides for an infinite time period. The essentials being the legal, export, and techno-commercial impact that bears down heavily on both accounts.
The fishing rights have been another apple of discord, which shall turn into a reality by December 31 should Brexit finally take place. Standard fair plays in the trade may become a mystery as the UK has another requirement of exporting in the EU to earn export revenue. Trade quotas and tariff barriers are hit another roadblock as a matter of debate. Should the decision be further spilling to forthcoming days, it can’t be ruled out that the prominent role players shall be German Chancellor Angela Merkel and French President Emmanuel Macron, hailing from the two most powerful countries of the EU.
While Germany has been harping on the automobile segment, ogling the major auto purchase sector in the UK, France has been more concerned with the UK based companies conforming to the EU rules and environmental and social standards should they wish to eye the EU market as quite profitable pie.