As Brexit Nears the Finish Line, EU’s Barnier Travels to London

BRUSSELS (Reuters) -
(Reuters/Dado Ruvic/Illustration//File Photo)

European Union chief negotiator Michel Barnier will travel to London late on Friday in a last-ditch attempt to reach a Brexit trade deal as the two sides try to resolve differences over fishing and competition policy.

With just five weeks left until the United Kingdom finally exits the EU’s orbit on Dec. 31, both sides are calling on the other to compromise to avoid a tumultuous finale to the five-year Brexit crisis.

Face-to-face negotiations will resume shortly after they had to be suspended last week when one of Barnier’s team tested positive for the coronavirus.

“In line with Belgian rules, my team and I are no longer in quarantine. Physical negotiations can continue,” Barnier said on Twitter. “Travelling to London this evening to continue talks.”

In a closed-door meeting for national diplomats in Brussels, Barnier said he was not able to say yet whether a new U.K. trade deal would be ready in time, a source told Reuters.

The talks are still snagged on three main issues – fair competition guarantees, governance and fisheries – but neither side has so far shown a willingness to shift enough on them to allow a breakthrough.

The Barnier presentation did not present “a particularly bright picture” of the talks, the diplomat added.

A source close to the negotiations said it had been “tough” recently to make progress.

Britain formally left the EU on Jan. 31 but has been in a transition period since then under which rules on trade, travel and business remain unchanged. From the end of the year it will be treated by Brussels as a third country.

The two are trying to strike a trade deal on goods that would safeguard nearly $1 trillion in annual trade and the peace in British-ruled Northern Ireland.

The latter is a priority for Joe Biden, who has warned British Prime Minister Boris Johnson he must uphold the 1998 U.S.-brokered Good Friday Agreement that ended three decades of sectarian conflict.

European Commission chief Ursula von der Leyen said on Wednesday the EU was ready for the possibility of Britain leaving the bloc without a new trade accord despite “genuine progress” in the tortuous Brexit talks.

A “no deal” exit would snarl borders, spook financial markets and sow chaos through the delicate supply chains that stretch across Europe and beyond — just as the world grapples with the vast economic cost of the COVID-19 outbreak.