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’.

Saudi – Led Coalition Says It Intercepts Houthi Drone Fired At Southern Saudi Arabia

The Saudi – led coalition fighting Houthi forces in Yemen said on Tuesday it had destroyed an explosive drone fired towards Khamis Mushait in the south of Saudi Arabia. A military spokesman for the Iran – aligned Houthi group then said they had fired a drone at and hit Abha International Airpot, which is near … More Saudi – Led Coalition Says It Intercepts Houthi Drone Fired At Southern Saudi Arabia

Saudi Arabia’s Crown Prince, China’s Xi Discuss Cooperation In Phone Call

China’s President Xi Jinping told Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday that Beijing was willing to push its strategic partnership with Riyadh ‘to a new level’, the official Chinese Xinhua news agency reported. In a phone call, the two leaders discussed boosting cooperation in energy, trade and technology, Xinhua added. China’s crude … More Saudi Arabia’s Crown Prince, China’s Xi Discuss Cooperation In Phone Call

Saudi Arabia’s King Salman, Crown Prince Donate Total of $7.9 Mln To Charity

Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman have donated a total of $7.9 million (SR 30 million) to charity through the Kingdom’s Ehsan Platform, the Saudi Press Agency (SPA) reported on Friday. King Salman donated $5.3 million (SR20 million) for charitable and non – profitable works, while the Crown Prince contributed … More Saudi Arabia’s King Salman, Crown Prince Donate Total of $7.9 Mln To Charity

U.S. Imposes Wide Array Of Sanctions On Russia For ‘Malign’ Actions

The Unites States on Thursday imposed a boar array of sanctions on Russia to punish it for election interference, cyber – hacking, bullying Ukraine and other ‘malign’ acts. The measures blacklisted Russian companies, expelled Russian diplomats and placed limits on the Russian sovereign debt market in steps sure to anger Moscow. Among the actions, President … More U.S. Imposes Wide Array Of Sanctions On Russia For ‘Malign’ Actions

Queen Elizabeth Returns To Royal Duties Four Days After Her Husband’s Death – PM Media

Britain’s Queen Elizabeth return to royal duties on Tuesday, four days after the death of her husband, Prince Philip, in an event to mark the retirement of her household’s most senior official, PA Media reported. The queen hosted a ceremony as the Earl Peel stepped down as Lord Chamberlain, the report added. Philip, who has … More Queen Elizabeth Returns To Royal Duties Four Days After Her Husband’s Death – PM Media

Saudi Arabia’s Ithra Celebrates Ramadan With Cultural Events, Activities

Saudi Arabia’s King Abdulaziz Center for World Culture (Ithra) is celebrating the holy month of Ramadan with a wide selection of cultural events and interactive activities. Ithra is offering visitors a chance to take part in events focused on national traditions and  Saudi Arabian heritage, as well as different interactive workshops. The centre’s Ramadan program also includes a collection … More Saudi Arabia’s Ithra Celebrates Ramadan With Cultural Events, Activities

Britain’s Prince Philip Has Died

Prince Philip, the husband of Queen Elizabeth who played a leading  figure in the British royal family for almost seven decades, has died aged 99, Buckingham Palace said on Friday. The Duke of Edniburgh, as he was been y his wife’s side through her 69-year  reign, the longest in British history, during which time he … More Britain’s Prince Philip Has Died

Loading…

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


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 )

Google photo

You are commenting using your Google 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