EU's Donald Tusk threatens delay to Brexit talks over Irish border row

Mar 12, 2018, 05:58

Instead, he said it was time to "address the sceptics who say a trade deal including financial services can not be done because it has never been done before".

"Our economies, including in financial services, are interconnected. our regulatory frameworks are identical. and our businesses and citizens depend on cross-border financial services trade in their day-to-day lives". Her ministers have been taken to task for trying "to have their cake and eat it" as they seek the best possible trade deal for Britain.

The President of the European Council, Donald Tusk, has told the Taoiseach, Leo Varadkar, that Ireland's interests come first in the Brexit negotiations.

Tusk also dashed UK's hope to include financial services in the future relation agreement, as demanded by UK's chancellor of the Exchequer Philip Hammond on Wednesday.

Jolyon Maugham QC told BI that he is being "realistic" about the case, but said the European Union is 'based on the rule of the law, and if the law gives me the right to retain my European Union citizenship, or a Dutch resident the right to retain her citizenship, then that is what the law is'.

"Because of Brexit, we will be drifting apart", the chairman of European Union leaders Donald Tusk told a news conference, delivering a message that contrasted sharply with May's call for future trade to be "frictionless as possible".

Responding to Mr Hammond's assertion that it was in the interest of both Britain and European Union to ensure that UK-based financial services companies had easy access to the single market, Mr Tusk said: "I fully respect the Chancellor's competence in defining what is in the UK's interest".

There's also a gaping divide on what the future relationship between the trading partners should look like.

'In fact, this will be the first free-trade agreement in history that loosens economic ties instead of strengthening them. They are very skilled, very disciplined in the way they carry out their negotiation.

"The EU itself has noted that because of the proximity of the United Kingdom and the European Union, because of complexity and scale of existing trade flows, in many respects a simple free trade agreement would leave many questions unresolved that would have to be resolved", he said. "It will make it more complicated and costly than today for all of us", he said. "This is the essence of Brexit", Tusk said at a news conference in Brussels to publicize the guidelines for the next phase of the Brexit negotiations.

Chuka Umunna, a prominent lawmaker in the opposition Labour Party who is advocating Britain remaining part of the tariff-free single market and customs union, said Fox's remarks were nothing more than "playground speak".

"A pick-and-mix approach for a nonmember state is out of the question".

'Like other free trade agreements, it (the trade agreement) should address services, ' Tusk said.

"It would be completely irresponsible to create an atmosphere where we can say, don't worry, everything will go well and smoothly because we simply don't know", Katainen said.

There's a history of missed deadlines in the Brexit process and Britain's Davis said in an off-the-cuff comment past year that he expected talks to continue until the last minute. "It's simply not in our interest", Tusk said.

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