Sunday, 24 June, 2018

"No deal" Brexit could cost UK, EU companies 58 bln pounds

BRITAIN-EU-POLITICS-BREXIT Fox Threats of punishment are “not the language of a club but the language of a gang
| 14 March, 2018, 00:44

May and EU27 leaders is set to hold a new round Brexit negotiation on March 22 and 23, with hopes for the consolidation of a transition deal immediately following March 29, 2019, when Britain will become a third country.

That frustration was reinforced by EU Commission President Jean-Claude Juncker, who also told EU legislators that "there is increasing urgency to negotiate this orderly withdrawal".

"The UK is interested in having a close partnership with the EU".

"I don't anticipate a return to violence like the kind we had 20 or 30 years ago".

Britain says the implementation period will give businesses certainty heading into next year, as the rest of Britain's future relationship with the European Union is yet to be agreed upon.

Britain has so far failed to bring forward "specific and realistic" alternative proposals to keep the Irish border open without activating the EU's "backstop" option, he said.

"The UK is choosing to leave the union, the single market and the customs union, we have noted that".

Firms across the EU's 27 countries other than Britain will have to pay 31 billion pounds a year in tariff and non-tariff barriers if Britain leaves the bloc without a deal, the report by Oliver Wyman management consultants and law firm Clifford Chance said.


The 28 European Union member states been united on sanctions on Moscow since Russia's annexation of Crimea in 2014 but six-monthly rollovers, which require unanimity, have been subject to grumbling from some countries seeking warmer relations with Russian Federation.

"We anticipate this notification will be a relatively simple process and that a system to enable firms and funds to do this will be set up ahead of exit day", the FCA said on its website.

"Does Britain also want to leave that model and go toward regulatory competition-call it dumping-against us", he asked legislators at the European Parliament in Strasbourg, France.

In response, the European Parliament's chief Brexit negotiator Guy Verhofstadt, said: "Citizens' rights during the transition are not negotiable".

Rather than adopting an existing model such as membership of the European Economic Area or the European Free Trade Association (the so-called Norway model) or looking to replicate a Canada-style Free Trade Agreement, the United Kingdom will continue to press for a bespoke deal which is tailored for United Kingdom interests.

Former Ukip leader Nigel Farage said the European Union was trying to "bully" Britain.

'Please Mrs May, at this summit next week, do what Trump has done - stand strong against the European Commission, against the unelected bullies'.

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