BREAKING NEWS | ‘Parting Is Such Sweet Sorrow’: EU and UK Clinch Narrow Brexit Accord

Britain clinched  a narrow Brexit trade deal European Union on Thursday, just seven days before it exits one of the world’s trading blocs in its most significant global shift since the loss of empire.

The deal, agreed more than four years after Britain voted narrowly to leave the bloc, means it has averted a chaotic finale to the tortuous divorce that has shaken the 70-year project to forge European unity from the ruins of World War Two.

It will preserve Britain’s zero- tariff and zero – quota access to the bloc’s single market of 450 million consumers, but will not prevent economic pain and disruption for the United Kingdom or for EU member states.

Many aspects of Britain’s future relationship with the EU remain to be hammered out, possibly over years.

‘It was a long and winding road’, European Commission President Ursula von der Leyen told reporters. ‘But we have got a good deal to show for it. It is fair, it is a balanced deal, and it is the right and responsible things to do for both sides’.

British Prime Minister Boris Johnson tweeted a picture of himself inside Downing Street, raising both arms in a thumbs – up gesture of triumph. ‘We have taken back control of our destiny’, he told reporters. ‘People said it was impossible, but we have taken back control’.

‘We will be an independent coastal state’, he said. ‘We will be able to decide how and where to stimulate new jobs’.

The UK formally left the EU on Jan 31 but has since been in a transition period under which rules on trade, travel and business remained unchanged until the end of this year.

‘JUMBO DEAL’

Johnson described the last – minute agreement as ‘jumbo’ free trade deal along the lines of that done between the European Union and Canada, and urged Britain to move on from the division caused by the 2016 Brexit referendum.

The deal will also support the peace in Northern Ireland – a priority for U.S. President – elect Joe Biden, who had warned Johnson that he must uphold the 1998 Good Friday Agreement.

EU member Ireland said the deal, which the Commission website said would be published soon, protected its interests as well as could possibly have been hoped.

The trade pact will not cover services, which make up 80% of the British economy, including a banking industry that position London as the only financial capital to Rival New York.

Access to the EU market for UK – based banks, insurers and asset managers will become patchy at best.

Johnson said the deal did not contain as much as he would have liked on regulatory equivalence for financial services, but still contain some ‘good language’.

A deal seemed imminent for almost a day, until haggling over just how much fish EU boats should be able to match in British waters delayed the announcement of one of the most important trade deals in recent European history.

When the UK shocked the world by voting to leave the EU, many in Europe hoped that it could stay closely aligned. But that was not to be. Von der Leyen, quoting Shakespeare, said that ‘parting is such sweet sorrow’.

UAE Names ADNOC Chief Jaber As COP28 Climate Conference President

PARIS, France – The United Arab Emirates said on Thursday that Sultan al – Jaber, the head of state oil giant ADNOC, would act as president of the COP28 climate conference it is hosting this year. Jaber, also UAE’s minister of industry and technology and its climate envoy, will help develop the COP28 agenda and…

Saudi Arabia To Host Pre-Pandemic Numbers For 2023 Haj Pilgrimage Season

PARIS, France – Saudi Arabia will remove COVID-19 restriction for the 2023 haj season and host pre-pandemic numbers of pilgrims, the kingdom’s ministry of haj and umrah said on Monday. In 2019, the last yeast before the pandemic struck, some 2.6 million people performed the haj. The kingdom allowed only limited numbers from its residents…

UAE President Congratulates Netanyahu On Inauguration

PARIS, France – United Arab Emirates President Sheikh Mohammed bin Zayed al – Nahyan called Israeli Prime Minister Benjamin Netanyahu to congratulate him on his inauguration, the official Emirates News Agency (WAM) reported on Saturday. Netanyahu was sworn in as Israel’s prime minister on Thursday in a comeback at the head of a hard-right cabinet…

Former Pope Benedict Dies Aged 95

PARIS, France – Former Pope Benedict, who in 2013 became the first pontiff in 600 years to step down, died on Saturday aged 95 in the Mater Ecclesiae Monastery in the Vatican where he had lived since his resignation, a spokesman for the Holy See said. ”With sorrow I inform you that Pope Emeritus, Benedict…

Ronaldo Joins Saudi Arabian Club Al Nassr Until 2025

PARIS, France – Portugal capital Cristiano Ronaldo has joined Saudi Arabian club Al Nassr on a 2-1/2 year contract, the club announced on Friday, after leaving Manchester United to become a free agent. Ronaldo departed Old Trafford last month following an explosive television interview in which the 37-year-old forward said he felt betrayed by the…

Pele, Who Died At 82, Was A Sports Star And Cultural Icon

PARIS, France – The Brazilian soccer star said Andy Warhol told him that. It was a twist on something else the American artist is widely credited with saying, that ”in the future, everyone will be world-famous for 15 minutes”. Warhol made the soccer star’s portrait in 1977, and Pele took great pride in turning his…

Unemployment Among Saudi Citizens Increase To 9.9 In Q3/22

PARIS, France – Unemployment in Saudi Arabia among citizens increased to 9.9% in the third quarter, up 0.2. percentage points from the previous quarter but the overall unemployment rate remained unchanged at 5.9 percent, data released on Thursday showed. The rate of joblessness among citizens fell from 11.3% in the same period last year, however,…

Messi To Return To PSG In Early January, Says Galtier

PARIS, France – Lionel Messi will return to Paris St Germain at the beginning of January, the Ligue 1 club’s manager Christophe Galtier said on Tuesday. The Argentine forward, seven – times Ballon D’Or winner, scored two goals to lead his country to victory over France on penalties in the World Cup final nine days…

Iranian Woman Competes At Chess Tournament Without Hijab – Media Reports

PARIS, France – An Iranian chess player has taken part in an international tournament without a hijab, according to media reports, the latest several Iranian sportswomen to appear at competitions without one since anti-government protests began. Iran has been swept by demonstrations against the country’s clerical leadership since mid-September when 22-year-old Iranian Kurdish woman Masha…

Qatar Reiterates Denial That Its Government Involved In EU Corruption Case

PARIS, France – Qatar reiterated on Sunday that the country denies any involvement in a corruption case being investigated by Belgian authorities involving people linked to the European Parliament. Belgian authorities have charged four people linked to the European Parliament over allegations World Cup host Qatar lavished them with cash and gifts to influence decision-making.…

Loading…

Something went wrong. Please refresh the page and/or try again.

Advertisement

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s