France has warned the European Union's chief Brexit negotiator, Michel Barnier, that you will veto the Brexit deal if you don't like the terms. Paris is trying to pressure the community bloc not to give in to the United Kingdom on issues that are still under debate, such as fishing rights, which have become an insurmountable obstacle for the French government.
Belgium, Denmark and the Netherlands support France's hardline stance of grant as little access as possible to UK fishing waters, according to information from Bloomberg. The news came at a critical time for the agreement on post-Brexit trade relations between the United Kingdom and the European Union, which remains to be formalized, while both parties try to reach a meeting point before the end of the understanding period, December 31st.
Barnier has warned member countries on Wednesday that important days for a trade agreement are approaching, that expect it to be formalized on Friday or throughout the weekend, and considers that it is an "all or nothing". However, the Twenty-Seven have advised the chief negotiator to stand firm and have indicated that they want to review the deal point by point before it is closed.
THE POUND REMAINS POSITIVE
The price action of the pound, one of the barometers of the talks, indicates that "expectations remain high that an agreement can be reached in the coming days, although there appears to be a decrease in gains for the pound after the positive headlines, at least in the last few sessions, "says Stephen Innes, analyst at AxiTrade. However, "a no-deal result also looks lower and lower, given recent price action," he says. Operators are extremely cautious, particularly if the UK's position to get the deal on time is compromised. The currency remains above $ 1.34, a three-month high.
The EU heads of government meet on December 10, and hope to reach the date with a pact more than solved and thus address the negotiation of European budgets without a major burden. However, if an agreement is not reached before the deadline, as of January 1, 2021, relations would be governed by the rules of the World Trade Organization (WTO).