A Brexit trade deal could be imminent, with just eight days left until the end of the transition period, Reuters reported citing a senior European diplomat on Wednesday.<\/p>\n\n\n\n
However, according to another European diplomat, a no-deal Brexit remains a possibility.<\/p>\n\n\n\n
The European Union (EU) is reportedly making a final push, in trade talks with the United Kingdom (UK), for an agreement for the post-Brexit stage.<\/p>\n\n\n\n
Fishing rights remain the issue where the biggest disagreement lies, Reuters has reported citing the EU\u2019s chief negotiator.<\/p>\n\n\n\n
\u201cWe are really in a crucial moment. We are giving it a final push,\u201d said Michel Barnier.<\/p>\n\n\n\n
The UK has no intention to extend the Brexit transitional period, which ends on December 31 in order to allow more time for negotiations with the EU, as expressed by a spokesperson for the British Prime Minister Boris Johnson.<\/p>\n\n\n\n
The First Minister of Scotland, Nicola Sturgeon, has urged Johnson to extend the deadline due to the complications of the emergence of a new variant of the novel Coronavirus in the UK, CNBC reported.<\/p>\n\n\n\n
It is worth noting that the emergence of the new variant has led to the cancelation of governmental plans to ease lockdown measures during the Christmas holiday.<\/p>\n\n\n\n
Last week, a spokesman for Johnson said that it is now very likely that a no deal Brexit will be completed by the end of the year.<\/p>\n\n\n\n
Talks are in a serious situation and there is no room for an agreement unless the EU changes its position, according to the United Kingdom\u2019s PM office.<\/p>\n\n\n\n
The President of the European Commission, Ursula von der Leyen, said that it is very challenging to overcome the big differences between the two sides, as cited by Reuters.<\/p>\n\n\n\n
Barnier said last week that a deal is still possible, noting that the upcoming days are critical.<\/p>\n\n\n\n
Reuters quoted another EU diplomat as saying that \u201cthere might now be a narrow path to an agreement visible \u2013 if negotiators can clear the remaining hurdles in the next few days.\u201d<\/p>\n\n\n\n
The UK and the EU have reportedly exchanged warnings that time is passing by without reaching a deal for the post-Brexit era, as the transitional period expires by the end of the year.<\/p>\n\n\n\n
The UK is ready to reach a trade agreement with the EU but not at any cost, the British finance minister Rishi Sunak previously said.<\/p>\n\n\n\n
Sunak, who recently played down the effect of a no trade deal Brexit in an interview with the Financial Times, told reporters \u201cwith a constructive attitude and goodwill on all sides we can get there.\u201d<\/p>\n\n\n\n
Last month, Johnson said that the time has come to be ready for not reaching a trade deal with the EU.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Brexit trade deal could be imminent, with just eight days left until the end of the transition period, Reuters reported citing a senior European diplomat on Wednesday. However, according to another European diplomat, a no-deal Brexit remains a possibility. The European Union (EU) is reportedly making a final push, in trade talks with the …<\/p>\n","protected":false},"author":10,"featured_media":32423,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6865],"class_list":["post-39055","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-brexit"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=39055"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39055\/revisions"}],"predecessor-version":[{"id":39057,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/39055\/revisions\/39057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32423"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=39055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=39055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=39055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}