Britain’s hopes of an advantageous free trade agreement with the EU could be dashed if it attempts to use Brexit as an opportunity to abandon the “European model” and transform itself into a low-tax, low-regulation economy, Brussels’ chief negotiator has warned.2 comments
The UK has two weeks to clarify key issues or make concessions if progress is to be made in Brexit talks, the bloc's chief negotiator has said. Michel Barnier was speaking after meeting the Brexit secretary for talks on citizens' rights, the Irish border, and the UK's divorce bill.
Prime Minister Theresa May has made clear that she is not expecting a Brexit breakthrough at this week’s summit of EU leaders, describing it as an opportunity to “take stock” of progress so far. Mrs. May said she would be setting out “ambitious plans” for further negotiations in the weeks ahead, and said she wanted to inject a new “urgency” into discussions on the post-Brexit rights of EU citizens living in the UK and Britons on the continent.
European Union’s chief Brexit negotiator has slapped down Boris Johnson over his claim that Brussels could “go whistle” if it expected large sums from Britain as part of the withdrawal agreement.
Spain will support a Brexit deal that allows British expatriates to remain on the Costas with their benefits intact, including access to healthcare, it was reported. According to The Times, Madrid would “in principle” favour an agreement that would allow Britons living in Spain and other parts of the EU to retain existing rights.
British Prime Minister Theresa May will trigger EU withdrawal talks under Article 50 on March 29, Downing Street has announced. The Prime Minister’s letter officially notifying the European Council of the UK’s intention to quit will set in train a two-year negotiation process expected to lead to Britain leaving the EU on 29 March 2019.
The European Commission has refused to discuss the size of the “exit bill” to be handed to the UK when it withdraws from the EU, amid reports the demand has been fixed at around £48 billion.
The European Commission has received no ‘well-founded’ complaints alleging Gibraltar’s failure to cooperate on tax, financial and money-laundering matters, according to Michel Barnier, the Commissioner for Internal Market and Services. In response to questions in the European Parliament, Mr Barnier also confirmed that Gibraltar was fully up to date with the transposition of EU legislation in all three fields, according to a report from the Chronicle.
Michel Barnier, the European commissioner in charge of financial regulation, is expected to bring forward changes to his market abuse directive and regulation within in the next weeks, the Financial Times said on Monday.
European Union has reached an agreement on reforms in the financial sector with the creation of a European Systemic Risk Council and three new watchdogs covering banking, insurance and securities markets.