Wednesday, 17 October, 2018

European Union unlikely to accept May's Brexit proposals: Coveney

Nellie Chapman | 05 March, 2018, 14:10

Mr Coveney was responding to ideas included in a keynote address by Prime Minister Theresa May on Friday aimed at outlining the UK's roadmap to Brexit.

May wants financial services to be included in a free trade deal - something she believes it is still possible to achieve despite accusations from Brussels that her approach amounts to "cherry picking" the best bits of the European Union "I've said before that no deal is better than a bad deal, but I'm confident that we can get a good deal, and get the right deal for the British people", May told the BBC. They say Britain must accept less access to the single market if it continues to rule out some of the conditions for member countries, including the free movement of people from across the EU.

The Prime Minister also pointed out that trading deals for banks are to likely be required to undergo change since they might turn Britain into a "rule-taker" outside the EU.

Despite the break-up with the EU, the Prime Minister said the country would try to keep its membership in some European regulatory agencies, such as those on chemical, aviation and pharmacy surveillance, in order to maintain its position in the market.

He said: "This isn't a question of either side wanting to put up borders, but if you have to protect a functioning single market, just the same way Britain wants to protect its own single market, well then you have to understand that if goods move from one customs union to another then there needs to be some checks unless there is some mechanism that is negotiated and put in place that prevents that".

Financial services, she insisted, would be a key part of what she hopes will be the most comprehensive free trade deal ever struck.

"On broadcasting, we recognise that we can not have exactly the same arrangements with the European Union as we do now". "We would have to abide by their rules which were being set elsewhere".

"Given the importance of financial stability, of ensuring the City of London, we can't just take the same rules without any say in them", May said.

Theresa May has again reiterated her position that the United Kingdom wants Brussels to get the freedom to negotiate trade deals with other countries as well as control over the rule of law, but warned that any dispute over future bilateral relations could not be resolved in the courts of any one of the parties. "And they might say no it doesn't, so there's no outcome, they might say yes it does, and so there would be a effect".

"I think it's important to be straight with people", May said.

May's most senior advisers admit the real domestic troubles will start when the European Union refuses and forces the decide between the freedom to strike trade deals around the world or retain open commerce with the EU. "There is no answer still on how we can get frictionless trade".

And she called for "mutual recognition" in areas like regulation of goods, broadcasting licences and professional qualifications. On the details of the issues, such as the Irish border, there's a long way to go.

The head of a hardline group of pro-Brexit lawmakers on Saturday gave a cautious welcome to Prime Minister Theresa May's plans for Britain's future ties with Europe, saying now was not the time to nitpick.