The European Union's chief Brexit consultant came forward to issue a statement on the progress of trade talks. Based on the report released, he informed that the negotiations between the two sides have reached the peak stage with the remaining only making a ‘deal’ or ‘no deal’ decision and the EU also stated their principle that they will not enter into a hasty agreement.
Four diplomats have stated that negotiations so far have not been able to reach an end due to disputes over British water rights issues, fair competition guarantees and how to resolve disputes in the future.
The diplomats said that it was only a matter of days to decide before the deadline of 31 December. According to one of the diplomats, Michel Barnier declined to comment on when an agreement must be made.
Yet David McAllister one of the stakeholders stated the agreement should be reached within a few days and then the Council and Parliament will complete the remaining procedure.
The deadline for the Brexit transition period will end on 31 December and UK ministers have rejected the idea of extending the transition period despite the Covid-19 outbreak issue.
The pound was reported to have fallen 0.88% against the US dollar as of 9.40 p.m at the 1.329 exchange rate.
