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Free AccessCouncil Approves Commission Contingency Plan For Fisheries If No Deal
Todaythe European Council approved the European Commission's plans for contingency measures related to fisheries if no deal is agreed with the UK before the latter leaves the transition period at year end.
- The full set of contingency measures can be found here.
- The contingency measure essentially puts forward the proposal that UK ships can continue to fish in EU waters and vice versa on the current quota system if both sides agree until a full-time deal is reached.
- "In light of the long-standing fishing patterns of United Kingdom vessels in Union waters and vice versa, and in order to obtain reciprocal access to waters, the Union should provide for a mechanism for United Kingdom vessels to access Union waters by means of authorisations, in order to be able to fish the quota shares that will be allocated to the United Kingdom, under the same conditions that apply to Union vessels. Such fishing authorisations should only be granted if and to the extent that the United Kingdom continues to provide authorisations for Union vessels to continue fishing within United Kingdom waters."
- Comments from EU and UK officials seem to indicate that fisheries remains the most substantial issue holding up a deal being reached.
- As with the other contingency measures, the Commission and Council have agreed to bypass gaining approval from national parliaments in order to ensure measures are in place by year-end.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.