UK hope for Brexit deal like 'no other'

Jay Anderson
June 19, 2017

Britain starts formal talks to leave the European Union on Monday, seeking a deal "like no other in history" despite entering fiendishly hard negotiations with a badly weakened government, reported AFP.

Other issues on the agenda, at least in the near term, include establishing residential rights of more than 3 million European Union citizens now living in the United Kingdom - and the 1 million British expats living in European Union member states - once the formal exit is complete.

United Kingdom negotiator David Davis and the EU's Barnier have one key issue over the first weeks of talks: building trust after months of haggling over leaks and figures over the final bill that Britain would have to pay for leaving.

Finalization of the agreements on the future relations between Brussels and London is only possible after the Brexit process is concluded, but discussion of those future relations may begin during the second phase of the talks. There's more that unites us than divides us. For the officials sitting down on Monday, at least on the European Union side, a major worry is Britain crashing out into a limbo, with no deal.

The Mechanical Engineering Industry Association, known by its German initials VDMA, says that that goal of the two-year negotiating process is "damage limitation" because Brexit won't benefit either side.

While Barnier insists on the "sequencing" of talks, so that trade negotiations can not start until probably January, finding a way to avoid a "hard" customs border for troubled Northern Ireland may well involve some earlier discussion of the matter. May, whose future is uncertain after she lost her Conservative majority in an election this month, has insisted that trade talks start immediately and run in parallel.

The UK is reportedly planning to make a generous offer to the 3 million European Union nationals living in Britain so long as it's reciprocated for the 1 million Britons residing on the continent.

EQT buys Rice Energy to create shale gas drilling giant
On November 21 the company was upgraded from "Hold" to "Buy" with a current price target of $33.00 in a report from Deutsche Bank. The institutional investor acquired 9,086 shares of the oil and gas producer's stock, valued at approximately $215,000.

European Union negotiator Michel Barnier said the negotiations which should lead to a breakup by March 2019 "must first tackle the uncertainties caused by Brexit - first for citizens, but also for the beneficiaries of the European Union policies and for the impact on borders, in particular Ireland".

Both sides need an agreement to keep trade flowing between the world's biggest trading bloc and the fifth largest global economy.

Talks will begin at 0900 GMT with a joint press conference by former French foreign minister and European commissioner Barnier and Davis at around 1630 GMT.

The comments are designed as a direct rebuttal to Emmanuel Macron, the French president, who said that the "door remains open" for Britain to stay in the EU.

British Prime Minister Theresa May has said that the vote one year ago was partly a vote for Britain to control its borders, and has said that Britain will leave Europe's single market, as membership is incompatible with restricting immigration.

With May still hammering out the details of a post-election deal to stay in power with the support of a small Northern Irish party, there are fears of a disorderly exit that would weaken the West, imperil Britain's $2.5 trillion economy and undermine London's position as the only financial centre to rival NY.

Barnier has warned that the negotiations must be wrapped up by October 2018 to allow time for all parties to ratify a final accord by March 2019.

Other reports by BadHub

Discuss This Article

FOLLOW OUR NEWSPAPER