London and Brussels continue to hold talks about a potential trade agreement for the post-Brexit era. EU MP Christophe Hansen discussed the ongoing negotiations during an interview with RTL Radio, where he stated that he sees a 10% chance for success: “An agreement has to be made before 31 December, although many legal challenges are still going to occur if a solution is found at such a late stage.”
Hansen is co-author of the trade agreement report. He explained that the lines were clear and it only remained a question of flexibility from either side at this point. He believes the UK has more to lose if no trade agreement is reached and they start operating according to the minimum standards by the World Trade Organisation. He highlighted the automobile industry and the meat sector as potential risk areas.
The remaining points of contention are in the fishing industry and the rules on competition. Discussions currently envision the creation of a bilateral control institution, where both fractions could send experts to monitor the situation. The UK government further refuses to accept any meddling in their decisions on government stimulus packages for the economy.
Hansen believes that the struggle can mainly be traced back to a question of sovereignty on the part of the UK: “I think they have to get over these differences and accept that the EU offers valuable access to its interior market. They have to start being pragmatic about this.”
