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Free AccessMNI SOURCES: Brexit Talks Still Stuck, Could Last Till Mid-Nov
EU-UK negotiations have so far failed to produce any convergence on the key sticking points of fisheries, state aid and governance of a potential post-Brexit trade agreement, though talks could continue until early-to-mid-November before it becomes too late to clinch a deal, an EU diplomat told MNI.
"Legal texts are being developed on eight out of 11 tables. The three where this isn't happening are the well-known points. So no convergence there yet. (It) will be a few weeks. If at all," the diplomat said, adding that it was unlikely that French President Emmanuel Macron would yield to pressure from German Chancellor Angela Merkel to make concessions on fisheries.
"Macron wants to be in a position where he controls the fish narrative. Any attempt to change that will fail. We've learned from experience," the source said.
LANDING ZONES
Pressed on potential landing zones, the diplomat said these remained elusive.
"There are always landing zones; but as in real life it will depend on wind speed, timing & visibility when and whether negotiators actually will get to touch down together."
Talks will continue in London through Wednesday and are due to resume in Brussels on Thursday this week.
Another EU source suggested other countries could put more pressure on France over fisheries, but only if agreement were reached first on the other key issues.
"Pressure from others would increase if this really is the only issue...it will only go if the rest is satisfactory," the second source said.
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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.