The European Union and UK have reached this Thursday, after months of negotiations, a historic trade agreement on the Brexit. "We have reached an agreement after traveling a complex path", explained the president of the European Commission, Ursula von der Leyen, at a press conference. The European has defined it as "fair and balanced".
"Separation is sad, but sometimes ending something is a beginning. Time to leave Brexit behind and focus on Europe", von der Leyen concluded.
Michel Barnier, the main Brexit negotiator, wanted to add to this sadness, "always it would have been better if it had remained within the European Union", he assured during his speech.
The Prime Minister of the United Kingdom before appearing before the media although he has shown his satisfaction through his social networks. "The deal is done" can be read in the last message posted on his Twitter profile.
The deal is done. pic.twitter.com/zzhvxOSeWz
– Boris Johnson (@BorisJohnson) December 24, 2020"
"The agreement that has been reached will be very beneficial for us, and also for our partners. Our objectives are common," said the 'premier' to the media. "It will allow us that situations of lack of justice are going to be very rare. We will have mutual respect but also free trade".
This Wednesday, community sources leaked that the agreement was "imminent" and that negotiators from both sides would continue working through the night to announce a pact this Thursday, with barely a week left until the UK's final departure from the community club.
A deal before Christmas avoids a turbulent economic breakdown and it will be very well received by markets. The pound sterling, the main thermometer to gauge the success of the negotiations, appreciates 0.5% and changes to $ 1.3563.
The analysts at Bolsamanía state that "technically, and in the absence of the closing of the weekly candle of the pound against the dollar (or cable), what we have before us is what is known as a 'head and shoulders' inverted ", with a target of 1.57, "with the permission, of course, of the intermediate resistance it presents in the 2018 highs, at 1.4376".
Right now, the details on the fishing quotas, an obstacle for months within a lengthy trade deal of more than 2,000 pages, including the difficult chapters of the governance and a level playing field in competition matters. All that remains is the difficult obstacle of access to British waters by the European fleet.
The pact, which has been in negotiation for almost a year, it is vital for the UK to maintain access to the single market without tariffs or quotas, And for what products sent by the EU to the UK market are not penalized.
If successful, it would ensure that the trade in goods, which constitutes half of the annual trade between both parties, for a total value of almost One billion dollars, stay free of duties and fees.
According to the senior EU diplomat, Member States will have to approve a provisional application of the agreement with effect from January 1 because, even if there is an agreement, there will not be enough time for the European Parliament ratify it.
In any case, it seems that the Twenty-seven are already preparing for this scenario, according to three diplomatic sources of the bloc cited by Reuters.
"It seems that the agreement is more or less there. It is a matter of announcing it today or tomorrow"said an EU diplomat, who assured that the European council preparations have begun to allow a "provisional application", or a rapid implementation, of the expected agreement.
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