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Free AccessSenior MEP-UK Actions On NI Protocol 'Unhelpful To Say The Least'
Chair of the European Parliament Foreign Affairs Committee, German MEP David McAllister, tweets a thread on the UK's unilateral extension of grace periods re: NI-GB trade:
- "A thread on the recent developments: The UK Coordination Group held a meeting today with [Commission VP] Maros Sefcovic to assess the worrying situation created by the UK Government's announcement that it would adopt unilateral measures to extend certain grace periods. This is unnecessary and untimely. The EU side has offered to discuss the flexibilities allowed by the protocol framework, but the UK Government has again chosen the slippery slope of acting outside the framework of the protocol. Moreover, this happens at a moment where the European Parliament is examining the Trade and Cooperation Agreement and has yet to decide when the vote on the consent will take place. These developments are unhelpful, to say the least. Escalating the situation is not the solution. The EU has demonstrated time and time again a clear and unambiguous will to a pragmatic, solution-driven approach to facilitate everyday life in Northern Ireland. The unilateral decision by the UK undermines this approach. The EP has been and remains fully committed to the faithful implementation of the Withdrawal Agreement, including the Protocol on Ireland and Northern Ireland and the Good Friday Agreement, which is the only way to protect it in all its dimensions and avoid a hard border."
- The implication in McAllister's statement is that the EP could put on hold its ratification of the UK-EU Trade and Cooperation Agreement, something that is required before the treaty becomes part of EU law. At present it is only being provisionally applied.
- Earlier today, MNI Political Risk produced an article examining the potential implications of the UK gov'ts actions:https://marketnews.com/mni-political-risk-analysis...
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.