No deal on Brexit trade 'very very likely', British PM Johnson says

[rooster59]

No deal on Brexit trade 'very very likely', British PM Johnson says

By Guy Faulconbridge and Gabriela Baczynska

 

FILE PHOTO: Flags of the Union Jack and European Union are seen ahead of the meeting of European Commission President Ursula von der Leyen and British Prime Minister Boris Johnson, in Brussels, Belgium December 9, 2020. Olivier Hoslet/Pool via REUTERS/File Photo

 

LONDON/BRUSSELS (Reuters) - Britain is likely to complete its journey out of the European Union in three weeks without a trade deal, British Prime Minister Boris Johnson and European Commission chief Ursula von der Leyen said on Friday.

 

Britain quit the EU in January but remains an informal member until Dec. 31 - the end of a transition period during which it has remained in the EU single market and customs union.

 

Both sides say they want to agree arrangements to cover nearly $1 trillion in annual trade but negotiations are at an impasse, with Britain standing to lose zero-tariff and zero-quota access to the huge European single market.

 

"It's looking very, very likely we'll have to go for a solution that I think will be wonderful for the UK. We'll be able to do exactly what we want from Jan. 1. It will obviously be different from what we set out to achieve," Johnson told reporters.

 

"If there's a big offer, a big change in what they're saying then I must say that I'm yet to see it," said Johnson, the face of the "leave" campaign in Britain's 2016 Brexit referendum.

 

He later held a meeting with senior minister Michael Gove and officials to assess the country's preparedness for a no-deal departure, a government official said.

 

Von Der Leyen was quoted by an EU official as telling leaders of the bloc's 27 member states attending a summit in Brussels on Friday that prospects for a deal had worsened.

 

"The probability of a no deal is higher than of a deal," the official said on condition of anonymity.

 

Johnson and von der Leyen have given negotiators until Sunday evening to break the deadlock over fishing rights and EU demands for Britain to face consequences if in the future it diverges from the bloc's rules.

 

Johnson must decide whether the deal on offer is worth taking or the future freedom and domestic political benefits afforded by leaving without one outweigh the economic costs.

 

A Brexit without a trade deal would damage the economies of Europe, send shockwaves through financial markets, snarl borders and sow chaos through the delicate supply chains which stretch across Europe and beyond.

 

NO DEAL?

 

As EU leaders lined up to warn of the failure of talks, investors started to price in the risk of a chaotic finale to the five-year Brexit crisis.

 

British stocks fell, euro zone government bond yields fell and sterling fell about 1% against the dollar and euro.

 

Italian Prime Minister Giuseppe Conte said there were still fundamental issues unresolved in the trade talks.

 

"Time is running out and we need to prepare for a hard Brexit," he said, referring to an abrupt rupture in trade arrangements.

 

EU leaders rejected a proposal from Johnson for a Brexit call with German Chancellor Angela Merkel and French President Emmanuel Macron on Monday, EU officials said.

 

Johnson is under pressure from Brexit supporters in Britain not to cave to any EU demands that they say could undermine his promises to regain Britain's sovereignty.

 

Macron also faces domestic pressure, with French fishermen urging him to ensure the EU defends their fishing rights.

 

Asked by a reporter about an EU proposal for a one-year contingency plan, under which EU fishermen would keep access to Britain's fishing waters, he said: "I'm not asking to have my cake and eat it, no. All I want is a cake that's worth its weight. Because I won't give up my share of it either."

 

The Bank of England said it had taken steps to keep banks lending through 2021 as Britain prepares for any market disruption from a big change in the trading relationship with the EU, while also dealing with the COVID-19 pandemic.

 

(Additional reporting by Michael Holden, David Milliken, Andy Bruce, Elizabeth Piper, Sujata Rao and Paul Sandle; Writing by Guy Faulconbridge; Editing by Timothy Heritage, Philippa Fletcher and Daniel Wallis)

 

-- © Copyright Reuters 2020-12-12

 

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[RichardColeman]

Can't wait to see the French fisherman riots burning Macron posters. Macron is digging himself into an almighty hole.

[scammed]

8 minutes ago, rooster59 said:

"It's looking very, very likely we'll have to go for a solution that I think will be wonderful for the UK. We'll be able to do exactly what we want from Jan. 1. It will obviously be different from what we set out to achieve,"

 

there was once a fox that couldnt reach the grapes,

and after umpteen attempts decided they were most likely sour anyway

[rupert the bear]

oh dear not good for anyone i had hoped a deal could be done,its in everyones inteest,once again pollies and beaurocrats have screwed us.macrons rediculous bonapartist posturing have cost a lot of people an awful.lot. why wont he and merkel take a call from johnson?i see- its my way or the highway.its really gonna help french fishers now,they could end up with nothing.its a tiny part of both sides economies but those are UK waters not Eu ones.no one wishes to deprive them of a livelihood but they are now foreign boats.as for the rule changes we are all on the same page as of jan 1st but several yrs down the road they wish to tell a sovereign nation that a law change obliges them to change the law too. to obey brussels!!i dont think any major nation can agree to that.i would have voted remain but this type of negotiation isnt an open one.both sides need to compromise and johnsons shown that by axing the ulster part of legislation,a good move in my mind .fishing makes up a tiny part of both economies,it reminds me of cameron going to brussels when the ref was called and asking for a little to go home with so he could hand the ref to remain on a plate,sent home with his tail between his legs like a naughty schoolboy.this is becoming an authoritarian bloc with little democracy and an economic model that plunges part of the region into massive debt and benefits germany holland a few others at a great price to others,wealth is supposed to go north south exactly the opposite is happening,the euro- well if germany still had the mark theyd sell nothing to anyone except a few rich swiss and a central bank with a central currency that insist each country issues its own debt IE there are no euro bonds,thats having your cake and screwing the rest of them ie italy greece port spain etc,a disaster for everyone.

[Chomper Higgot]

All that’s missing is a ‘nod from inside’ to make these continual announcements from Johnson a hedge fund managers dream.

 

Not that I’m suggesting Johnson would feel at all inclined to do any favors for his financial backers and former school quad chums.

[edwinchester]

"There's no plan for a no deal because we're going to get a great deal"

Boris Johnson, 11th July 2017.

 

He and his lying charlatans should be hounded from office for this whole Brexit farce.

[Laughing Gravy]

12 minutes ago, edwinchester said:

"There's no plan for a no deal because we're going to get a great deal"

Boris Johnson, 11th July 2017.

 

He and his lying charlatans should be hounded from office for this whole Brexit farce.

What happened if there is a deal you will look a right twerp.

 

To have a deal there has two be two sides wanting a deal. the EU seem to clearly not want one as they just don't seem to understand that the UK have left the EU.

 

As for Brexit farce. Since Boris has been PM we have had more clarity than ever than when TM was leading the negotiations. After all the people voted him and his party in by over an 80+ seat majority in the last GE.

 

You are not going against democracy are you.

[soalbundy]

3 hours ago, scammed said:

 

there was once a fox that couldnt reach the grapes,

and after umpteen attempts decided they were most likely sour anyway

Not one country in the world can do whatever it wants, there are multiple constraints, the biggest being the markets which I am sure the UK is about to find out.

[soalbundy]

46 minutes ago, Laughing Gravy said:

What happened if there is a deal you will look a right twerp.

 

To have a deal there has two be two sides wanting a deal. the EU seem to clearly not want one as they just don't seem to understand that the UK have left the EU.

 

As for Brexit farce. Since Boris has been PM we have had more clarity than ever than when TM was leading the negotiations. After all the people voted him and his party in by over an 80+ seat majority in the last GE.

 

You are not going against democracy are you.

democracy or a full stomach and a roof over ones head......it's a difficult decision.

[Laughing Gravy]

6 minutes ago, soalbundy said:

democracy or a full stomach and a roof over ones head......it's a difficult decision.

Are you suggesting that Brexit will cause famine and displacement from peoples homes.

 

Because if you are that has to top all the scare mongering I have ever heard. I look forward to that evidence. Even the Guardian newspaper do not go that far.

 

If so please tell me where, s i can inform family and friends to move.

Edited December 12, 2020 by Laughing Gravy
Need evidence!

[soalbundy]

6 minutes ago, Laughing Gravy said:

Are you suggesting that Brexit will cause famine and displacement from peoples homes.

 

Because if you are that has to top all the scare mongering I have ever heard. I look forward to that evidence. Even the Guardian newspaper do not go that far.

 

If so please tell me where, s i can inform family and friends to move.

Not famine but I can imagine high unemployment and a greater run on the food banks that are already overwhelmed, even before covid large numbers of children going to school hungry have been reported and yes higher numbers of evictions due to non payment of rent are on the cards.

[Natai Beach]

1 hour ago, edwinchester said:

"There's no plan for a no deal because we're going to get a great deal"

Boris Johnson, 11th July 2017.

 

He and his lying charlatans should be hounded from office for this whole Brexit farce.

 

I am surprised Boris hasn’t got it done already.

He seems like such a competent, sensible and intelligent man. He is doing a superb job with covid, he said so himself.

 

Bad for the expat Brits, your pound won’t be worth much after this.

 

[scammed]

15 minutes ago, Laughing Gravy said:

Are you suggesting that Brexit will cause famine and displacement from peoples homes.

 

Because if you are that has to top all the scare mongering I have ever heard. I look forward to that evidence. Even the Guardian newspaper do not go that far.

 

If so please tell me where, s i can inform family and friends to move.

you are right, the market will adjust,

and the net result is higher cost for goods, and then either higher taxes, or, more likely, a devaluation of the pound

to make english goods more competitive on the market

[Laughing Gravy]

4 minutes ago, soalbundy said:

Not famine but I can imagine high unemployment and a greater run on the food banks that are already overwhelmed, even before covid large numbers of children going to school hungry have been reported and yes higher numbers of evictions due to non payment of rent are on the cards.

"democracy or a full stomach and a roof over ones head......it's a difficult decision".

 

So no sensationalism then in the above statement.

[Laughing Gravy]

8 minutes ago, scammed said:

you are right, the market will adjust,

and the net result is higher cost for goods, and then either higher taxes, or, more likely, a devaluation of the pound

to make english goods more competitive on the market

Firstly, I will correct you. it is British goods. As it would appear you are missing 3 countries who are part of the union that you overtly missed out.

 

Secondly, it will kick start British consumerism which is needed in every country.  Buy British.

 

As the world is a huge place and the EU will not be able to control what we sell and who too. We will be more competitive. All great stuff.

 

I think people will cope with Cheshire, Gloucestershire and other British Cheeses over brie.  As for drink, Proseco is overrated and French wine isn't worth putting on chips in my opinion.

 

There is a bright future ahead for the UK. As for the EU, I wouldn't say it is bright at all. The cracks are only just starting.

 

Edited December 12, 2020 by Laughing Gravy
Grammar Police

[soalbundy]

Just now, Laughing Gravy said:

"democracy or a full stomach and a roof over ones head......it's a difficult decision".

 

So no sensationalism then in the above statement.

No I don't think so, times are going to be very difficult in the UK for the average working person and the average voter is more fickle than a bored woman, that isn't to say things will be hunky dory in the EU either but the larger european countries are better at looking after their people than the UK.

[Laughing Gravy]

10 minutes ago, Natai Beach said:

 

I am surprised Boris hasn’t got it done already.

He seems like such a competent, sensible and intelligent man. He is doing a superb job with covid, he said so himself.

 

Bad for the expat B its, your pound won’t be worth much after this.

 

I detest some sour grapes coming from you.  Where are you from.

Thanks for your picture, it had such a huge impact.????

[Chomper Higgot]

17 minutes ago, soalbundy said:

Not famine but I can imagine high unemployment and a greater run on the food banks that are already overwhelmed, even before covid large numbers of children going to school hungry have been reported and yes higher numbers of evictions due to non payment of rent are on the cards.

Awful and very likely prospects that some find amusing.

[petermik]

Bye bye to our ex European partners let us hope your arms are long enough to dig deep into your pockets to fill the very large hole our contributions made....we voted out..we want out

[petermik]

7 hours ago, Chomper Higgot said:

Awful and very likely prospects that some find amusing.

many of us yes....

[soalbundy]

4 minutes ago, Laughing Gravy said:

Firstly, I will correct you. it is British goods. As it would appear you are missing 3 countries who are part of the union that you overtly missed out.

 

Secondly, it will kick start British consumerism which is needed in every country.  Buy British.

 

As the world is a huge place and the EU will not be able to control what we sell and who too. We will be more competitive. All great stuff.

 

I think people will cope with Cheshire, Gloucestershire and other British Cheeses over brie.  As for drink, Proseco is overrated and French wine isn't worth putting on chips in my opinion.

 

There is a bright future ahead for the UK. As for the EU, I wouldn't say it is bright at all. The cracks are only just starting.

 

Most long lasting goods ( cars, household appliances, electrical equipment etc) aren't British owned and those that are are full of foreign made parts anyway, take the illustrious hand built Morgan running on a Japanese engine. Three typical British icons Rolls Royce and the Mini are owned by BMW and Bentley is owned by VW, British cheese wont cut it. 

[Chomper Higgot]

10 minutes ago, Laughing Gravy said:

Firstly, I will correct you. it is British goods. As it would appear you are missing 3 countries who are part of the union that you overtly missed out.

 

Secondly, it will kick start British consumerism which is needed in every country.  Buy British.

 

As the world is a huge place and the EU will not be able to control what we sell and who too. We will be more competitive. All great stuff.

 

I think people will cope with Cheshire, Gloucestershire and other British Cheeses over brie.  As for drink, Proseco is overrated and French wine isn't worth putting on chips in my opinion.

 

There is a bright future ahead for the UK. As for the EU, I wouldn't say it is bright at all. The cracks are only just starting.

 

I’m a great fan of fine crafted British cheeses, Cheddars and Stilton of course, but also Wensleydale, Cheshire and many of the UK’s goat milk cheeses.

 

Better still are the numerous small craft cheeses that have flourished these past 20 years.

 

Competition with the very many high quality European cheeses has been a factor in their success, as has Origin Protections under EU law.

 

The protections an EU funding British cheese producers rely on will end this year.

 

The completion will be cheap rat trap cheese imported from the US and New Zealand.

 

A visit to a Makro cheese counter will give you an idea the post Brexit UK food market that awaits UK customers.

 

 

[soalbundy]

7 minutes ago, petermik said:

Bye bye to our ex European partners let us hope your arms are long enough to dig deep into your pockets to fill the very large hole our contributions made....we voted out..we want out

You don't work and live in the UK then. The hole in contributions can be filled by cutting subsidies eg. to inefficient French farms, often quietly discussed but never seriously, now is the time for change.

[Laughing Gravy]

15 minutes ago, soalbundy said:

Most long lasting goods ( cars, household appliances, electrical equipment etc) aren't British owned and those that are are full of foreign made parts anyway, take the illustrious hand built Morgan running on a Japanese engine.

Well with your doom and gloom everyone will be starving and have no house so BMW's and Merc's won't be an after thought. 

 

I get the feeling you are a remainer and not gotten over the democratic referendum result.

Edited December 12, 2020 by Laughing Gravy

[Surelynot]

52 minutes ago, Natai Beach said:

 

I am surprised Boris hasn’t got it done already.

He seems like such a competent, sensible and intelligent man. He is doing a superb job with covid, he said so himself.

 

Bad for the expat Brits, your pound won’t be worth much after this.

 

In Brussels, the prime minister was strongly criticised for attempting to bypass the European Commission by offering to fly to Paris and Berlin for talks with Emmanuel Macron and Angela Merkel.

It was revealed that both the French president and German chancellor had also snubbed him by refusing a three-way call on Monday – and Mark Rutte, the Dutch prime minister, lashed out at the tactic.

 

What a complete bumbling buffoon.....who would have thought a lying, cheating, third rate journalist would turn out to be such a poor ambassador for the hopes of the UK

[JonnyF]

1 hour ago, soalbundy said:

democracy or a full stomach and a roof over ones head......it's a difficult decision.

Yes. Because Demcracy and having a roof over you head are obviously mutually exclusive.????

 

With that attitude towards Democracy it makes perfect sense that you'd be a fan of the EU and their corrupt protectionist anti democratic bullying racket.

 

Good riddance to them. I hope a Buy British campaign is launched in the UK ASAP. In my opinion all goods in supermarkets should be clearly marked as EU or British. Support our own produce and import as little as possible from the EU. We should not buy from hostile environments. I've cancelled my plans to buy a S1000RR already. The Japanese will get my business as they were happy to sign a trade deal with us. As were Canada, South Korea etc.

 

 

[soalbundy]

4 minutes ago, Laughing Gravy said:

Well with your doom and gloom everyone will be starving and have no house so BMW's and Merc's won't be an after thought. 

 

I get the feeling you are a remainer and not gotten over the democratic referendum result.

Don't exaggerate, BMW's and Mercedes will still be sold, quality and beating the Joneses always had a price they will just be even more expensive and the profits will go back to Germany, as they do now. Actually they may not need to be more expensive, car makers have always charged more for British customers than elsewhere because the British car market is traditionally expensive, a BMW in Germany is a lot cheaper than in the UK (that was the situation when I worked for BMW 16 years ago).

Dangerous for the UK is that engines (BMW has an engine plant for its Mini in Hams Hall) and other parts (and even complete production plants) could/will move production meant for the EU countries out of the UK to avoid tariffs, leaving perhaps reduced production in the UK for the home market resulting in large job losses. What are the Japanese going to do? Modern production lines work on the 'just-in-time' basis not something that can be relied upon now as even British experts warn of chaos at the ports in the event of 'no deal'.

[Laughing Gravy]

1 minute ago, soalbundy said:

Don't exaggerate, BMW's and Mercedes will still be sold, quality and beating the Joneses always had a price they will just be even more expensive and the profits will go back to Germany, as they do now.

You were the one saying people will be going hungry and no roofs over their heads.

 

There is more to life than a car. An overpriced one at that.

[soalbundy]

13 minutes ago, JonnyF said:

Yes. Because Demcracy and having a roof over you head are obviously mutually exclusive.????

 

With that attitude towards Democracy it makes perfect sense that you'd be a fan of the EU and their corrupt protectionist anti democratic bullying racket.

 

Good riddance to them. I hope a Buy British campaign is launched in the UK ASAP. In my opinion all goods in supermarkets should be clearly marked as EU or British. Support our own produce and import as little as possible from the EU. We should not buy from hostile environments. I've cancelled my plans to buy a S1000RR already. The Japanese will get my business as they were happy to sign a trade deal with us. As were Canada, South Korea etc.

 

 

Name me an industrial British product. According to Reuters the deal with Japan was beneficial to the Japanese as non of the products agreed upon are exported from the UK to Japan (perhaps cheddar maybe). 

[soalbundy]

Just now, Laughing Gravy said:

You were the one saying people will be going hungry and no roofs over their heads.

 

There is more to life than a car. An overpriced one at that.

Certainly, so name me a world beating high value British industrial product that the UK exports. I must correct your first statement, some people are already going hungry even during the transition period, not everybody, and homelessness has already reached epic proportions, not everybody, I'm predicting it will get worse in the event of a no deal. I still don't think it will come to that, there will be a pragmatic fudge because all this nebulous nonsense about freedom (where has your personal freedom been reduced? it's only been increased you can go where you want in the EU to live and work) is lower down the list than money.