💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

EU may need to extend deadline for trade talks with UK - von der Leyen

Published 12/27/2019, 08:04 AM
© Reuters. Debate at the European Parliament in Strasbourg

PARIS/BERLIN (Reuters) - The European Union may need to extend the deadline for talks about a new trade relationship with Britain, European Commission President Ursula von der Leyen told French daily Les Echos in an interview published on Friday.

Von der Leyen said both sides needed to seriously think about whether there is enough time to negotiate a new trade deal and work out agreements about a series of other issues.

"It would be reasonable to evaluate the situation mid-year and then, if necessary, agree on extending the transition period," she told the paper.

Britain has set a hard deadline of December 2020 for reaching a new trade deal with the EU, betting that the prospect of another Brexit cliff-edge would force Brussels to move quickly to seal an accord.

In separate comments to German magazine Der Spiegel, von der Leyen said of Britain's departure deadline, currently set as Dec. 31, 2020: "That worries me a lot, because time is extremely short for the mass of issues that have to be negotiated."

She said earlier this month that this timeframe is "extremely short" to discuss not only trade issues but also education, transport, fisheries and other issues.

© Reuters. Debate at the European Parliament in Strasbourg

Von der Leyen told Der Spiegel that on security and defence: "Both sides are now striving for close cooperation."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.