Fx trading News:Post-Brexit era: the UK and the EU highlight their preliminary negotiation positions!


2020-02-04 11:44      from:CAPSTONE    author:Jack

Capstone Forex Trading News:British Prime Minister Johnson said in a televised speech recently that the "Brexit" day is not the end, but the beginning. Today, this phrase can be used to describe the image of Britain in the transition period.
    Johnson will meet with the EU Ambassador to the United Kingdom in London on the 3rd local time. A speech released by the British government in advance shows that Johnson will formally reject proposals made by EU leaders to align with EU rules after Brexit. The latest speech shows that the post-Brexit government will no longer comply with EU rules and will reject the European Court's jurisdiction over Britain during the negotiations.

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The speech also revealed that the Johnson administration hopes to achieve a more equal negotiating relationship with the EU, similar to the EU's negotiating model with Canada or Australia, rather than the EU membership model that follows EU rules. Johnson's tough stance will bring great uncertainty to the British negotiations. According to the original plan, future negotiations on British-Europe relations will be completed within this year.
On January 29th local time, the European Parliament formally approved the Brexit agreement. European Commission President Von Delane said in a speech that the European Union is providing the United Kingdom with an unprecedented "zero tariff, zero quota" agreement, but Britain needs to be consistent with the EU in basic rules. EU chief negotiator Barnier also recently emphasized in an internal meeting attended by EU 27 diplomats that Britain needs to be basically consistent with the EU on a series of issues such as state aid, environmental, social and labor standards. According to the arrangement, EU governments will pass the European Commission's negotiation authorization draft on February 25.
It lasted about three and a half years. After several delays and multiple rounds of negotiations, this long Brexit drama is about to end, but the next big drama in the transition period is about to start. Some analysts said that Brexit is just the beginning for the British economy, British trade rules will be restructured, the financial industry is facing shocks, and labor shortages will increase.

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