RE: BOOKIES AND LIKELIHOOD OF A TRADE DEAL20 Dec 2020 14:48
The European parliament has set midnight on Sunday, central European time, as the deadline for agreement. MEPs have said they will not hold a vote of consent this year if a deal is not in place.
A deal could still be “provisionally applied” by the 27 EU member states, with parliament holding a vote in January, although the commission is loth to take that route.
The provisional application process could also take up to a week, due to the need for translation and scrutiny of the text in the EU capitals, leaving just a few days more of talking time before a no-deal outcome, for at least a short period in the event of a very late agreement, becomes unavoidable.
A UK government source said: “We need to get any deal right and based on terms which respect what the British people voted for. Unfortunately, the EU are still struggling to get the flexibility needed from member states and are continuing to make demands that are incompatible with our independence.
“We cannot accept a deal that doesn’t leave us in control of our own laws or waters. We’re continuing to try every possible path to an agreement, but without a substantial shift from the commission we will be leaving on WTO terms on December 31.”