EU warns UK it will 'never, never, never' give way on its single market ahead of trade talks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The EU will 'never, never, never' compromise on the integrity of the bloc's single market when it comes to negotiating a trade deal with the U.K., according to Michel Barnier.

The EU's single market seeks to guarantee the free movement of goods, capital, services, and labor – the 'four freedoms' – within the EU.

"There will be no compromise on the single market. Never, never, never," Barnier said at Queen's University Belfast Monday evening. "It is our main asset on the EU side," he said. "Never will the EU compromise, fragile or unravel the single market, never," he said. When the U.K. leaves the EU on Friday January 31, it will remain a member of the single market but only during a "transition period" until the end of 2020.

"Leaving the EU, leaving the single market, leaving the customs union, it's the choice of the U.K., will have consequences. And what I saw in the past, in the last year, is that many of these consequences have been underestimated in the U.K., or not so well explained to the people," he said. "Now we have to face the reality and to be realistic."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Y’all just need to get along over there! We’ve got our own children to worry about.realDonaldTrump senatemajldr RepDevinNunes SenatorCollins

of course. i mean, why should they?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Varadkar: EU will beat 'colonial' minded UK in Brexit trade talks - Business InsiderThe Irish premier said the UK is stuck in its 'colonial' past and will be beaten by the EU in Brexit trade talks. From 1 February 2020,Brexit/British freedom would take place. Rt Hon Boris Johnson was wise again to meet Irish Prime minister and settle Northern Irish Parliament issue, beforehand. If you cannot fight them, join them. Irish have Irish luck and Boris has British luck. Good luck! trade talks may be lost because it is categorically imperative to the future cohesion of the EU that Britain is seen to suffer for its decision. A referendum that asked would we be prepared to leave may have helped - announcing we are leaving and then negotiating wasn't.
Source: BusinessInsider - 🏆 729. / 51 Read more »