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Free AccessMajor Day Ahead For Future Of UK-EU Trade Talks
Today could prove a crucial day in terms of the future of trade and diplomatic relations between the UK and the EU.
- At around midday, Cabinet Office Minister Michael Gove and Vice-President of the European Commission for Inter-institutional Relations and Foresight Maros Sefcovic will hold informal talks ahead of a formal emergency meeting of the EU-UK Joint Committee under the Withdrawal Agreement in London.
- The emergency meeting of the Joint Committee comes in the wake of the UK gov'ts publication of the UK Internal Market Bill yesterday, which laid out plans for the UK gov't to override aspects of the Brexit Withdrawal Agreement with relation to the Northern Ireland protocol. This would be in breach of international law, and has sparked a furious backlash in Europe and among opposition (and some Conservative) politicians in the UK,
- Later on this afternoon, at 1400BST (0900ET, 1500CET) the 8th round of official negotiations on a UK-EU FTA will conclude with a meeting between the UK's chief negotiator Lord Frost and his EU counterpart Michel Barnier.
- There is very little expectation for any forward progress in this round of talks. Following previous rounds Barnier has held a press conference with Frost releasing an official statement. There is no set time for a Barnier presser, and indeed no confirmation whether it could take place today or tomorrow.
- Some media observers have seen the UK gov'ts decisions over recent days as an indication that the Johnson gov't is looking to call off trade talks and walk away with no deal while blaming the EU as intransigent. Others have called the actions 'brinksmanship' and an attempt to push talks to the limit of collapse before dialing back tensions towards the end of the year and compromising on a deal.
To read the full story
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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.