A Post-Brexit Trade Deal Now Looks Likely

 

Forget some of the headlines. Significant progress towards a deal happened yesterday.

Tale of Headlines

The New York Times reports Boris Johnson Fails to Break Brexit Deadlock in Brussels Talks

A meeting over dinner between Prime Minister Boris Johnson of Britain and Ursula von der Leyen, the president of the European Commission, the bloc’s executive body, ended without significant progress, with large gaps left remaining between the two sides, and no clear path to bridging them.  

Wednesday’s three-hour meeting had been set up with the goal of ending months of deadlock in trade negotiations, talks that remained stalled just three weeks before Britain completes the final stage of Brexit, by leaving the European Union’s economic area at the month’s end. 

But in a statement Ms. von der Leyen said that despite “a lively and interesting discussion” the two sides’ positions “remain far apart.”

But the lack of progress at Wednesday’s dinner is another setback to a negotiation that has been stuck for months.

The above story is mostly rear view silliness. A key breakthrough happened yesterday when out of the blue Boris Johnson dropped a threat to break the Withdrawal Agreement.

There was zero chance of a deal until that happened. No one expected a deal with Ursula von der Leyen over dinner.

The Eurointelligence headline this morning has things correct:

"How a Deal is Done"

1 2 3 4
View single page >> |

Disclaimer: The content on Mish's Global Economic Trend Analysis site is provided as general information only and should not be taken as investment advice. All site content, including ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.