InstaForex

October 4, 2021

Beware Of UK Threats

 The UK will threaten to remove some of the terms of an agreement governing post-Brexit trade with Northern Ireland, saying the arrangement is too dangerous to maintain.


UK Brexit Minister David Frost, who will speak at a Conservative Party conference on Monday, will urge the European Union (EU) to help find a solution to the deal's problems, according to a statement issued by the party.


Britain has been urging the bloc for months to renegotiate the terms in the Northern Ireland protocol governing trade between the UK and its territory bordering EU member Ireland.



However, the insistence did not get the attention of the EU which said no to negotiations.


Also last month, David Frost had announced the UK’s readiness to suspend the deal unilaterally by threatening to use Article 16 protections, which would allow both parties to suspend the deal if it had a negative impact.


According to excerpts from his speech, Frost would say that the conditions of use of Article 16 protections have been met.


In the meantime, Brussels will immediately respond to a ‘directive paper’ submitted by London in July calling for changes to the protocol.