The tension over the Brexit agreement between the UK and the European Union (EU) is increasing day by day in an effort to reach an agreement before 31 December. The situation is getting worse with the EU legislature insisting that they do not have time to scrutinize and approve the agreement in this limited time.
EU and British negotiators are still at a dead end on the issue of fishing rights and this matter needs to be resolved before the new year. If there is no agreement between the two parties, then trade tariffs will be imposed on the EU and the UK.
Hundreds of thousands of jobs are at stake if there is no agreement between the EU and the UK. Britain still reaffirms its sovereignty over Irish waters, while the EU refuses to open a single profitable market to the UK unless the UK is committed to complying with EU rules.
The United Kingdom and the European Union are continuing their final attempt to reach an agreement on Monday with EU fishing rights in British waters being the most significant challenge yet to be resolved.
Both are reportedly planning the next steps after failing to reach a decision on the deadline which is Sunday yesterday. The GBP depreciated significantly by 1.70% against the US dollar to the exchange rate of 1.3285.
