Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

EU warns of 'frictions' in post-Brexit relations with Britain

by

BRUSSELS Mar 07, 2018 - 12:00 am GMT+3
European Commission Secretary General Martin Selmayr, EC President Jean-Claude Juncker and Head of Cabinet of the President Clara Martinez Alberola meet with the College of Commissioners, in Brussels, March 7, 2018. (REUTERS Photo)
European Commission Secretary General Martin Selmayr, EC President Jean-Claude Juncker and Head of Cabinet of the President Clara Martinez Alberola meet with the College of Commissioners, in Brussels, March 7, 2018. (REUTERS Photo)
by Mar 07, 2018 12:00 am

The European Union on Wednesday rejected Britain's calls for completely free trade after Brexit, saying in its long-awaited guidelines for future ties that frictions were inevitable.

The draft negotiating guidelines released by EU President Donald Tusk warned that there would be "negative economic consequences" as a result of Britain's vote to leave.

The rebuff came just days after British Prime Minister Theresa May called for the "broadest and deepest possible agreement", and as her finance minister urged a special deal for the City.

Tusk's draft red lines, which must now be adopted by the remaining 27 member states, said the EU was bound by Britain's self-imposed conditions for leaving the European Union.

"Being outside the Customs Union and the Single Market will inevitably lead to frictions," said the draft guidelines seen by AFP. "This will unfortunately have negative economic consequences."

The EU guidelines added that "there can be no 'cherry-picking'" -- Brussels jargon for getting free access in certain sectors including financial services without the obligations and costs of membership, including respecting freedom of movement of people from EU countries.

They did not specifically mention London's call for its financial services industry to continue having unfettered access to European markets, but said that in "trade in services" Britain would be treated as a third country with different rules to the EU.

Former Polish premier Tusk was due to formally unveil the guidelines at a press conference in Luxembourg with the tiny duchy's prime minister Xavier Bettel.

The leaders of the remaining 27 EU states must then approve the plans at a Brussels summit on March 22, setting the template for EU negotiator Michel Barnier in trade talks that could start as soon as April.

- 'Mutual interest' -

May used her speech last week to call for an EU-UK deal that worked "more fully than any free trade agreement anywhere in the world today", while acknowledging it was time to face "hard facts" about the economic consequences of Britain's shock 2016 vote to leave.

Her finance minister Philip Hammond was to tell the EU in a speech later Wednesday that including financial services in any trade deal was in the "mutual interest" of both Britain and the union.

In his keynote speech, Hammond will "address the sceptics who say a trade deal including financial services cannot be done", according to excerpts of the address released by his office on Tuesday.

"Every trade deal the EU has ever done has been unique," he is expected to say, pointing to prior agreements with Turkey, Canada and South Korea.

A leaked EU report quoted by the Guardian newspaper dismissed similar demands laid out by May in her speech last Friday as "double-cherry picking", and more about managing her restive Conservative party than proper negotiating.

The EU's tough stance is partly inspired by fears that if Britain gets a bespoke deal it could inspire the 27 remaining member states to leave the EU and demand special treatment themselves.

The European Parliament -- which will have the final veto on any Brexit deal -- is set to publish its own demands for trade talks later on Wednesday in Brussels.

It will say that any full-on trade deal would require a "binding convergence mechanism" with EU laws, the Politico Europe newspaper said. London has previously said it will not remain subject to the EU's courts after Brexit.

A political declaration on future relations will be attached to the Brexit divorce agreement between Britain and the EU, which Barnier wants in place by November at the latest.

Any actual trade deal will have to wait until after Brexit day on March 29, 2019.

  • shortlink copied
  • Last Update: Mar 07, 2018 3:24 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    homepage
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Israeli violence hit children where they are weakest: Their bedrooms
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021