Brexit trade deal sans services would not be fair: Hammond


In a speech delivered at London's Mansion House on Friday 2 March, Theresa May has suggested that, following Brexit, the United Kingdom could become an "associate member" of the European Medicines Agency (EMA).

'To ensure a level playing field, to ensure the integrity of the single market, and to ensure financial stability, this is why we cannot offer the same in services as we can in goods.

In a joint statement airport associations ACI Europe and the AOA welcomed the comments "This charts the way forward for the future aviation relationship and thus potentially reduces uncertainty for our sector", it says. "It will make it more complicated and costly for all of us than it is today", Tusk said.

Britain's Chancellor Philip Hammond said he was not ruling out using equivalence in financial services regulation, although he did not like the EU's model of it, which allows the European Union executive to revoke the equivalence at short notice.

It means that in terms of financial services "life will be different after Brexit".

The UK is offered tariff-free trade in goods, but only if both sides agree to maintain existing rights to fishing waters - a blow to the ambitions of the environment secretary, Michael Gove, and other Brexiters who campaigned on the promise of "taking back control" of British waters.

London vies with NY as the world's financial capital, dominates global foreign exchange, hosts the largest commercial insurance market and more banks than any other centre, something Hammond said helped European Union companies and consumers.

Speaking alongside Irish Prime Minister Leo Varadkar in Dublin, Tusk said Britain must propose "a specific and realistic solution to avoid a hard border" or there can be no progress in other areas of the negotiations. "It would be an economic catastrophe if we allowed a border between ourselves and the rest of the U.K".

"(But) No Member State is free to pick only those sectors of the Single Market it likes, nor to accept the role of the ECJ only when it suits their interest", he said.

Hammond, making a key speech in the Canary Wharf finance hub, urged Brussels to seek a bespoke free trade agreement for Britain, adding it would be in their "mutual interest" to include the sector.

In 13 pages, the resolution, prepared by the Guy Verhofstadt team, the Chief Negotiator on behalf of the EP on the topic of Brexit, recommends an "associated agreement" between the European Union and the UK.

The European Parliament vote will not be binding on leaders of the remaining 27 EU states when they finalise guidelines for negotiations on the future trade relationship at a summit of the European Council later this month. "This is the essence of Brexit". "In fact, this will be the first FTA in history that loosens economic ties, instead of strengthening them", the former Polish premier added.

"The EU can not grant the rights of Norway, with the obligations of Canada", Tusk said, who described May's approach as "pick and mix".

'It would be completely irresponsible to create an atmosphere where we can say, don't worry, everything will go well and smoothly because we simply don't know, ' Katainen said.


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