French minister: Cannot exclude 'no-deal' Brexit but that's not in UK interest

[snoop1130]

French minister: Cannot exclude 'no-deal' Brexit but that's not in UK interest

 

FILE PHOTO: French Junior Minister for European Affairs Amelie de Montchalin arrives at a General Affairs Councilc meeting at the EU headquarters in Brussels, Belgium February 25, 2020. Kenzo Tribouillard/Pool via REUTERS

 

PARIS (Reuters) - A senior French official said on Friday she could not rule out the European Union’s trade talks with departed ex-member Britain ending without a deal though it was in the British interest to reach one.

 

“I am not ruling out anything,” Junior European Affairs Minister Amelie de Montchalin told Europe 1 radio, when asked if she could rule out a no-deal Brexit.

 

“Those who need a deal the most are the British. They cannot withstand a second shock after the epidemic. They wouldn’t have access to the security net that is Europe, they wouldn’t have access to the stimulus fund,” she added, alluding to the economic hit to European states caused by the COVID-19 pandemic.

 

British Prime Minister Boris Johnson told visiting French President Emmanuel Macron on Thursday that talks on a post-Brexit deal cannot drag on into the autumn.

 

Montchalin said: “We will not yield to this deadline pressure, this final sprint that Britain want to impose on us in the hope we will cave in. We do not want a deal for the sake of having a deal but we want a balanced deal.”

 

Britain left the European Union on Jan. 31 but talks on a future relations have so far made little progress. Johnson and EU leaders say a deal is achievable, but both sides say time is running out and the prospect of no-deal remains.

 

An internal document obtained by Reuters this week showed the German government is urging other EU states to prepare for a no-deal Brexit, casting doubt on Johnson’s public optimism about chances of an early agreement on future ties.

 

A transition period during which Britain remains in the EU’s customs union and single market expires on Dec. 31 and Johnson has ruled out extending it.

 

Montchalin was speaking as EU leaders hope to unite behind an unprecedented stimulus to inject billions of euros into their coronavirus-ravaged economies at a teleconference meeting on Friday.

 

-- © Copyright Reuters 2020-06-19

 

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[terryw]

Why do European politicians say it is not in the UK's interest to have a No Deal? The fact is that it is in everyones interest to have a deal. The EU will be just as badly affected if there is no agreement.

[pacovl46]

20 minutes ago, terryw said:

Why do European politicians say it is not in the UK's interest to have a No Deal? The fact is that it is in everyones interest to have a deal. The EU will be just as badly affected if there is no agreement.

Nah, mate! The UK will definitely pay a much bigger price than the EU, if it comes to a no deal! I say, let them have the no deal! Servers them right!

[Peter Denis]

24 minutes ago, terryw said:

Why do European politicians say it is not in the UK's interest to have a No Deal? The fact is that it is in everyones interest to have a deal. The EU will be just as badly affected if there is no agreement.

Agree that it is in everyone's interest to have a deal.  But it is only natural and logical that the EU will not bend to UK pressure for a last minute deal on UK conditions.  Germany already preparing for a No Deal is quite sensible given the history of Brexit.

I don't agree on your last statement that the EU will be just as badly affected as the UK in case of a No Deal.  It's in everyone's interest that a Deal is made, but UK will be hit much harder than the EU in case of No Deal.

[Chomper Higgot]

The French guy is missing the point.

 

What’s in the best interests of those who funded and promoted Brexit?

 

They paid their coin and they’ll get what they paid for.

 

 

[englishoak]

49 minutes ago, Peter Denis said:

Agree that it is in everyone's interest to have a deal.  But it is only natural and logical that the EU will not bend to UK pressure for a last minute deal on UK conditions.  Germany already preparing for a No Deal is quite sensible given the history of Brexit.

I don't agree on your last statement that the EU will be just as badly affected as the UK in case of a No Deal.  It's in everyone's interest that a Deal is made, but UK will be hit much harder than the EU in case of No Deal.

 

I agree its in everyones best interest to have a deal, i also agree initially the UK would be hit harder in the event of no deal but, The very worst hit however would be the EU member Ireland, which it has itself said a number of times a no deal would be a total disaster, more burden on the EU. As the UK continues to make trade deals around the globe the pendulum swings back again and the EU will be the worse off just as the UK will find new markets. These other trade deals and partnerships in the event of a initial EU no deal would just galvanise better deals for new UK trade partners and the EU would begin to lose ground to them too. A US deal could come relatively fast especially if Trump is reelected which is the last thing the EU wants without a deal itself first. 

 

The city of London which contributes by far the most tax revenues through financial services will and is expected to experience rapid growth and investment once decoupled,  its very good at what it does and Id expect the UK gov to support future incentives for financial business growth of the city. It will no doubt attempt to capitalise on Hong Kongs imminent demise, it is already making that clear and the public offering of long term stay arrangements to HK residents was a clear dog whistle that the city of London will be very welcoming to financial and banking interests in HK needing a new home. Frankfurt cannot compete with the Banking regulatory freedoms and incentives the UK will be able and willing to offer our former colony, theres no doubt about that. 

 

Nope I am not worried about an initial no EU deal, it is likely to be very temporary at worst. 

Edited June 20, 2020 by englishoak

[Rookiescot]

1 hour ago, terryw said:

Why do European politicians say it is not in the UK's interest to have a No Deal? The fact is that it is in everyones interest to have a deal. The EU will be just as badly affected if there is no agreement.

Wait.

We were assured many times by Brexiteers that people knew what they were voting for so they must have wanted no deal Brexit. Or are you saying people voted for Brexit with a deal?

 

[grumpy 4680]

        Deal or no deal, the UK did okay before going in to the common market, Yes it may hurt the British pocket, But where does all the money come from for the EU stimulous package, some from Britain, no doubt.

        Give it some time, there will be deals under the table for British goods, and maybe we will be able  to get some cheaper fish able again.

 

[twocatsmac]

European bums are twitching now that their stalling tactics have gained them zilch. 

They’re wondering what they’ll do without the UKs fish that we subsidised them to plunder. 

[Zillod]

It really is like treading in a dog turd that you just can't flick off your shoe.  I think people are past caring about deal or no deal, just get on with it!  However bad "No-deal" is, it's better than the dying swan that Brexit has become.  Britain will recover just fire the starting pistol.

 

[Rookiescot]

2 hours ago, grumpy 4680 said:

        Deal or no deal, the UK did okay before going in to the common market, Yes it may hurt the British pocket, But where does all the money come from for the EU stimulous package, some from Britain, no doubt.

        Give it some time, there will be deals under the table for British goods, and maybe we will be able  to get some cheaper fish able again.

 

No the UK was not OK before we joined the EU.

The UK was the basket case of Europe.

[twocatsmac]

7 minutes ago, Zillod said:

It really is like treading in a dog turd that you just can't flick off your shoe.  I think people are past caring about deal or no deal, just get on with it!  However bad "No-deal" is, it's better than the dying swan that Brexit has become.  Britain will recover just fire the starting pistol.

 

The trigger was pulled 4 years ago.

[Rookiescot]

1 hour ago, twocatsmac said:

European bums are twitching now that their stalling tactics have gained them zilch. 

They’re wondering what they’ll do without the UKs fish that we subsidised them to plunder. 

Probably get the same fish from Norway, Iceland and Ireland.

The UK on the other hand is going to be sitting on a fish mountain with no-one wanting to buy it.

[twocatsmac]

1 minute ago, Rookiescot said:

Probably get the same fish from Norway, Iceland and Ireland.

The UK on the other hand is going to be sitting on a fish mountain with no-one wanting to buy it.

We’ll let the cats eat it.

[Loiner]

20 hours ago, snoop1130 said:

 They wouldn’t have access to  security net that is Europe, they wouldn’t have access to the stimulus fund,” she added, alluding to the economic hit to European states caused by the COVID-19 pandemic.

Access to their security net?? No they need us to support it for them. 

Better get out now, No Deall.

[puipuitom]

4 hours ago, pacovl46 said:

Nah, mate! The UK will definitely pay a much bigger price than the EU, if it comes to a no deal! I say, let them have the no deal! Servers them right!

Agreed. Let the British enjoy the prosperity their superb leader Boris Dominic Cummings Johnson promised them.

[puipuitom]

2 hours ago, grumpy 4680 said:

        Deal or no deal, the UK did okay before going in to the common market, Yes it may hurt the British pocket, But where does all the money come from for the EU stimulous package, some from Britain, no doubt.

        Give it some time, there will be deals under the table for British goods, and maybe we will be able  to get some cheaper fish able again.

 

When you do not know your history, big chance you will make the same mistakes again.

 

 the UK did NOT okay before going in to the common market. See the many hits on Internet about "the sick man of Europe", the UK.

[CorpusChristie]

25 minutes ago, Rookiescot said:

No the UK was not OK before we joined the EU.

The UK was the basket case of Europe.

What is that based on ?

[vinny41]

5 minutes ago, puipuitom said:

When you do not know your history, big chance you will make the same mistakes again.

 

 the UK did NOT okay before going in to the common market. See the many hits on Internet about "the sick man of Europe", the UK.

It seems in the past Germany was known as  The sick man of the euro

https://www.economist.com/special/1999/06/03/the-sick-man-of-the-euro

Why is Italy still the sick man of Europe?

https://www.dw.com/en/why-is-italy-still-the-sick-man-of-europe/a-48500455

As you know your History you will be aware of Europe PIIGS

PIIGS is an acronym for Portugal, Italy, Ireland, Greece, and Spain, which were the weakest economies in the eurozone during the European debt crisis. At the time, the acronym's five countries garnered attention due to their weakened economic output and financial instability, which heightened doubts about the nation's abilities to pay back bondholders and spurred fears that these nations would default on their debts.

https://www.investopedia.com/terms/p/piigs.asp

[david555]

1 hour ago, Zillod said:

It really is like treading in a dog turd that you just can't flick off your shoe.  I think people are past caring about deal or no deal, just get on with it!  However bad "No-deal" is, it's better than the dying swan that Brexit has become.  Britain will recover just fire the starting pistol.

 

Please carry on with it...

just watch out not to fire it in your foot ????

Edited June 20, 2020 by david555

[Pattaya46]

5 hours ago, Chomper Higgot said:

The French guy is missing the point. //

Guy?

Looks like you are in an urgent need of new spectacles  ????

[Blue Muton]

3 hours ago, grumpy 4680 said:

        Deal or no deal, the UK did okay before going in to the common market, Yes it may hurt the British pocket, But where does all the money come from for the EU stimulous package, some from Britain, no doubt.

        Give it some time, there will be deals under the table for British goods, and maybe we will be able  to get some cheaper fish able again.

 

Yeah the UK did ok before joining the rest of Europe - they had an empire.

 

As far as your claim that the UK will "no doubt" be contributing to the stimulois package, where is your evidence of this? As far as I'm aware any monies previoulsy agreed to have already been assigned to existing projects and initiatives and I've not read anything indicating that the UK is prepared to commit to this new funding - or maybe you just made that up?

[OneMoreFarang]

The problem for Boris and others is that they promised for years the impossible. Everything will be easy and much better than with the EU. Reality check: That is not happening!

 

Boris and others want no deal but somehow they have to be able to sell the consequences to the UK citizens. I guess they will get their no-deal and then they will blame all on Covid-19. They will say something like: Brexit would have been perfect. Any bad thing happening now is because of Covid-19 and obviously we can't be blamed for that Chinese virus.

And many Brexiters will say yes, blame Covid-19. Because otherwise they must finally agree that Brexit was a stupid idea.

 

Blame Covid-19! Repeat!

[Baerboxer]

10 hours ago, terryw said:

Why do European politicians say it is not in the UK's interest to have a No Deal? The fact is that it is in everyones interest to have a deal. The EU will be just as badly affected if there is no agreement.

 

That's very true. Extending deadlines also helps the EU are it secures more British payments into their coffers.

 

She right, the EU doesn't want a deal just for the sake of it. Neither does the UK.

 

Both want a fair and balanced deal. Only the ideas of what a fair and balanced deal looks like are quiet different.

 

This is a negotiation, not the EU laying down everything they want.

[evadgib]

Get on with it.

[Aforek]

26 minutes ago, darksidedick said:

 

A deal will be reached at the very last minute. 

 

this time I am not sure; EU seems to be very tired of Britain ( discuss with Britain, I mean ) 

[johnpetersen]

11 hours ago, terryw said:

Why do European politicians say it is not in the UK's interest to have a No Deal? The fact is that it is in everyones interest to have a deal. The EU will be just as badly affected if there is no agreement.

Mathematically this makes no sense. The EU is about 6 times as large as the UK. So only if EU trade with the UK outweighed the UK's by 600 percent would that make sense. And that is definitely not the case. UK trade with the EU is a far bigger percentage of its economy than is the EU's with the UK.  

[johnpetersen]

10 hours ago, englishoak said:

 

I agree its in everyones best interest to have a deal, i also agree initially the UK would be hit harder in the event of no deal but, The very worst hit however would be the EU member Ireland, which it has itself said a number of times a no deal would be a total disaster, more burden on the EU. As the UK continues to make trade deals around the globe the pendulum swings back again and the EU will be the worse off just as the UK will find new markets. These other trade deals and partnerships in the event of a initial EU no deal would just galvanise better deals for new UK trade partners and the EU would begin to lose ground to them too. A US deal could come relatively fast especially if Trump is reelected which is the last thing the EU wants without a deal itself first. 

 

The city of London which contributes by far the most tax revenues through financial services will and is expected to experience rapid growth and investment once decoupled,  its very good at what it does and Id expect the UK gov to support future incentives for financial business growth of the city. It will no doubt attempt to capitalise on Hong Kongs imminent demise, it is already making that clear and the public offering of long term stay arrangements to HK residents was a clear dog whistle that the city of London will be very welcoming to financial and banking interests in HK needing a new home. Frankfurt cannot compete with the Banking regulatory freedoms and incentives the UK will be able and willing to offer our former colony, theres no doubt about that. 

 

Nope I am not worried about an initial no EU deal, it is likely to be very temporary at worst. 

What makes you think that other nations are so eager to do trade deals with the UK?

As for the UK financial services doing better, why would that be? UK firms are going to lose their passporting rights in the EU.

[CorpusChristie]

41 minutes ago, johnpetersen said:

UK firms are going to lose their passporting rights in the EU.

Why is that relevant ?

Brits will still be able to go to E.U countries when we want to go 

[johnpetersen]

7 minutes ago, CorpusChristie said:

Why is that relevant ?

Brits will still be able to go to E.U countries when we want to go 

In this context "passporting rights" has nothing to do with foreign travel. In this particular case it means that British financial firms can do business subject to the same rules as any other EU financial firm can no matter where in the EU the business is being conducted.