InstaForex

November 2, 2021

France For 'Chance' For UK To Calm Controversy

 France will delay its threat of retaliation against the UK to give talks on post -Brexit fishing rights a chance to continue, according to President Emmanuel Macron.


Earlier, he had threatened to block UK boats from using his ports to transport catch due to the issue of licensing French fishing boats.


As a result, the UK said it welcomed the move and would pursue incentive talks.


This indirectly helped allay market concerns over the turmoil between the European Union (EU) and the UK over post -Brexit issues.



Disputes between the two sides have escalated over the past month, after the UK and Jersey blocked the entry of dozens of French fishing boats to operate in their waters.


This has led to a backlash from France threatening to take action against the UK.


However, representatives from the EU Commission, France, the UK and the Channel Islands began talks on Monday to defuse the dispute.


Meanwhile, UK Brexit Minister David Frost will also meet French European Affairs Minister Clement Beaune on Thursday to discuss various Brexit issues.


The reaction of the pound following the report, however, remained unchanged, with it continuing to trade lower around 1.36500 against the US dollar.