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Joint Statement Brief, But Still A Signal Of Cooperation On NI Protocol
The UK gov't and EU have released a joint statement following a videoconference today between UK Foreign Sec James Cleverly, Northern Ireland Sec Chris Heaton-Harris and EU Commission VP Maros Sefcovic. The statement was brief and relatively vague, but nevertheless marks a positive step towards some form of resolution to the long-running issues surrounding the Northern Ireland protocol.
- Statement: "The 2 sides discussed the range of existing challenges over the last 2 years and the need to find solutions together to tackle comprehensively the real-life concerns of all communities in Northern Ireland and protect both Northern Ireland’s place in the UK’s internal market and the integrity of the EU’s Single Market. They agreed that this scoping work for potential solutions should continue in a constructive and collaborative spirit, taking careful account of each other’s legitimate interests."
- There remain significant issues to address, including customs checks between GB and NI and the role of EU laws. However, none more difficult than the role of the ECJ in an dispute resolution. There is no sign yet of either the UK or EU bending on the issue, or a path to keep both sides happy.
- Both sides looking to have an agreement by the 25th anniversary of the Good Friday/Belfast agreement in April. Still a long way to go, but positive atmosphere highlighted in this statement might assist progress.
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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.