If Brexit talks fail: EU and British are already planning "mini deals"

Time is of the essence: a trade agreement between the EU and Great Britain must already be in place in the coming week. But it is questionable whether this will happen by then. According to a media report, both parties have already agreed on possible emergency solutions.

According to a media report, if their Brexit talks fail, the EU and Great Britain are aiming at at least smaller agreements in the field of air and road freight transport. Even if a comprehensive agreement to clarify future relations should not be reached by October 15, both sides would have agreed to keep in touch, reported the Times. In November one will then try to tie down at least "mini deals" in order to prevent disruptions in delivery traffic, for example. The newspaper did not name any sources in its report.

In the coming week, the EU and Great Britain want to continue their talks on a trade pact after the end of the Brexit transition phase. Differences still remained on important issues, but an agreement is still being sought, it was said recently from London. On Friday, the chief negotiators, the Frenchman Michel Barnier and the British David Frost, met for informal talks in London. Another meeting of the two is planned for the beginning of next week. A senior EU diplomat said Friday the UK had not moved enough. The EU also wants an agreement.

Both sides are negotiating a trade pact for the period after January 1st. According to an ultimatum from British Prime Minister Boris Johnson, the agreement should be ready next week – on October 15th. From an EU perspective, a deal must be in place by October 31st in order for it to be ratified. At the end of next week, Brexit will also be a topic at the summit of EU heads of state and government in Brussels.

Britain left the European Union on January 31st. In the transition phase, which will last until the end of the year, everything has largely remained the same. After that, the country will also leave the internal market and the customs union. The economic pressure is enormous: If a contract fails, there is a risk of tariffs and high trade barriers.

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