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Billions of trade between the UK and the EU are at stake as the two sides clash over a minor but symbolic fisheries issue.
Cross-Channel trade chaos beyond January 1 remained a threat as EU and UK negotiators trampled on Sunday, seemingly over fishing – a tiny but delicate fraction of trade between the continent and the British islands.
EU chief negotiator Michel Barnier appeared to indicate his willingness to compromise in a tweet on Sunday, saying he respected “the sovereignty of the United Kingdom”.
Both sides “must have the right to make their own laws and control their own waters,” he wrote, while saying the talks were at a “crucial time”.
At this crucial moment for the
🇪🇺🇬🇧 negotiations, we continue to work hard with @DavidGHFrost and his team.The EU remains committed to a fair, reciprocal and balanced agreement. We respect the sovereignty of the United Kingdom. And we expect the same. (1/2)
– Michel Barnier (@MichelBarnier) December 20, 2020
The European Parliament had set a deadline on Sunday to see any text of an agreement, with German MP David McAllister insisting that only then could ratification emerge in an emergency session on December 29 .
“This requires that by Sunday night at the latest we get a text, in order to start our measurements and the world prepared,” McAllister told German broadcaster NDR.
Without a central agreement, cross-Channel trade in the “single market” would disintegrate, with basic World Trade Organization rules applying instead. This change would lead to higher prices and more border controls.
Why is fishing so important?
The main obstacle – the fishing rights for EU boats in UK waters – is relatively minor compared to the massive trade losses and the hundreds of thousands of jobs that would be at risk if negotiations fail.
Fishing brings in around 0.12% of the UK’s annual GDP and most of its catch is exported. However, the issue is emotionally charged for states in the UK and northern EU.
During the Brexit 2016 campaign, Brexit supporters used EU fishing rights as an example of the bloc undermining UK sovereignty.
From Brussels, the AP news agency quoted an official from an “EU coastal nation” as saying that the bloc refused to give up more than a quarter of the fishing quotas it risked losing, if the Great -Brittany took full control of its waters.
UK Health Minister Matt Hancock, whose ministry was concerned about a mutant strain of coronavirus, accused the EU of making “unreasonable demands”.
Already on Friday, Michel Barnier, of the EU, said that there were only a few hours left to conclude a trade agreement in order to follow the transition of the single market and the customs union that has applied since the Great -Brittany suspended its EU membership in January.
In recent days UK ports have become congested and more trucks have converged on the Eurotunnel in both directions as traders scurry to stockpile goods for whatever comes along.
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