A watching world expects Brexit deal
- Failure of Britain and the EU to reach trade agreement would have damaging economic repercussions with food shortages, price increases and travel chaos feared
Many Brexit deadlines have been set, extended and missed over the four years since Britain voted to leave the European Union. The one that really matters is January 1 when a transition period ends and the impact of Brexit will finally be felt.
This would be disastrous for both sides. It makes no sense, especially as Covid-19 continues to wreak economic havoc around the world. It is make or break time for the negotiations. Both sides must strive to find common ground.
Britain formally left the EU on January 31. The 11-month transition period, which largely maintained the status quo, seemed short given the need to work out a complex trade deal. It appeared progress was being made, then talks stalled on several key issues. Johnson flew to Brussels this week for a dramatic dinner date with Ursula von der Leyen, president of the European Commission. But the only progress made was prolonging the talks until Sunday.
The sticking points are fishing rights, fair competition and a mechanism for dispute resolution. The EU, understandably, does not want Britain to gain a competitive advantage from the deal.
Failure to reach agreement will see tariffs imposed and border checks stepped up. There are fears of food shortages and price increases. Ports are already becoming congested, partly because of Brexit-related stockpiling. Cross-channel travel will become more difficult and expensive. There will also be less cooperation on security and combating crime.