Published: Fri, March 09, 2018
Global Media | By Abel Hampton

'Ireland first' - EU's Tusk fires Brexit warning shot

'Ireland first' - EU's Tusk fires Brexit warning shot

It's also why FTAs don't have detailed rules for financial services.

"There are great prizes for our economy as we leave the European Union in this era of globalization if we have the courage to grasp them", he said.

Foster, whose party supports Prime Minister Theresa May's Conservative government, added that she was disappointed that a return to violence in Northern Ireland had been raised in Brexit talks by those with little knowledge of the region. Rival cities within the bloc are battling to draw highly-paid banking jobs and the revenues they bring.

"A deep and comprehensive free trade area requires a binding convergence mechanism towards the European Union acquis (rulebook) and a binding interpretation role of the CJEU and does not allow cherry-picking of sectors of the internal market", states the motion. "We must have the ability if necessary, to deliver an equivalent outcome by different means".

The EU has issued draft guidelines for their views of a post-Brexit relationship with the EU and it falls well short of the dreams of the Brexit die-hards.

Hammond said he was not surprised that Tusk had set out "a very tough position" as negotiations start. However, the institution will have to approve the agreement reached.

The UK is offered tariff-free trade in goods, but only if both sides agree to maintain existing rights to fishing waters - a blow to the ambitions of the environment secretary, Michael Gove, and other Brexiters who campaigned on the promise of "taking back control" of British waters.

"The only remaining possible model (for EU-Britain future economic relationship) is a free trade agreement".

"In fact, this will be the first free-trade agreement in history that loosens economic ties instead of strengthening them". This should be "frictionless" and include access to free trade agreements already in place between third countries and the EU.

Tusk also touched on one of the most recent topics - US President Donald Trump's intentions to impose a tariff on steel and aluminum, triggering sharp criticism from around the world and requests for reciprocal action, including from the EU. Canadian financial firms must set up a presence inside the bloc and comply with its regulations if they want to do business there.

The EU will also require an air transport agreement, combined with an aviation safety agreement, to ensure a "strong level playing field in a highly competitive sector".

"The potential for financial services to be a necessary part of the future deal is still on the table in the draft European Union negotiating guidelines".

According to the MEPs' view, the non-EU countries should not have the same benefits or access the market, as the European members.

Her spokesman said this could include "reciprocal access to waters", but would have to involve 'fairer allocation of fishing opportunities for the United Kingdom fishing industry'.

Tusk's guidelines, which are expected to be adopted by leaders of the remaining 27 member states at a summit on March 22, said that Britain's own red lines "will inevitably lead to frictions". We are not going to sacrifice these principles. It's simply not in our interest.

Like this: