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Britain, EU reach post-Brexit free-trade deal

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By RAF CASERT and JILL LAWLESS

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A wonderful Christmas present for Brits and Europeans alike. No tariffs, not quotas in their trade, and the UK now is now on course for greater sovereignty. A win-win!

-5 ( +15 / -20 )

The EU will welcome Ireland and Scotland.

Britain will have the memories of a former empire. 

One has yet to explain, why having a restrictive/red-tape, expense filled trade relationship with the largest & richest trading bloc in the world is better than an unfettered free-trade relationship.

0 ( +15 / -15 )

A wonderful Christmas present for Brits and Europeans alike. No tariffs, not quotas in their trade, and the UK now is now on course for greater sovereignty. A win-win!

No tariffs or quotas however exports from Britain will have checks on their origins to meet EU regulations and people will no longer be able to travel, work or live freely in the EU. The EU is the largest trading bloc in the world for the sake of nationalistic ego based on a myth that expired 100 years ago, Britain has chosen to inflict pointless harm on its economy and people. A bad joke that the next few generations will have to live with. Sheer stupidity.

7 ( +21 / -14 )

@zichi

Johnson caved on the fishing rights.

Fishing is a tiny part of the economic relationship, whilst the UK remoaners have been making that a huge distraction. UK made a concession, albeit forcing EU fishers to give up a quarter of their quota, which is hardly "caving in."

Britain will have checks on their origins to meet EU regulations and people will no longer be able to travel, work or live freely in the EU.

You mean Britain and EU will be having a more "normal" trading relationship, in line with global norms. I can't think of any other major FTA that allows the unregulated movement of people over multiple national borders. NAFTA certainly doesn't. Japan? LOL, and thank goodness for that.

-3 ( +14 / -17 )

Britain will have the memories of a former empire. 

Thats been in the rear-view mirror for 75 years.

Britain will have checks on their origins to meet EU regulations and people will no longer be able to travel, work or live freely in the EU.

Alternate take; migrants will have checks on their origins to meet UK regulations and migrants will no longer be able to travel, work or live freely in the UK without those checks.

Pretty neat!

-3 ( +14 / -17 )

2021 is starting to look a bit brighter with both this UK EU deal, and Covid 19 vaccines rolling out. Hopefully we won't hear the words 'brexit' or 'social distancing' come the later half of 2021. I know that I'm certainly sick and tired of these words!!!

12 ( +13 / -1 )

At long last ! Hooray !

6 ( +14 / -8 )

Was hoping for a "No Deal", but this will have to do. Now, let's get out and get on with it!

0 ( +12 / -12 )

Brexit finally happens and democracy is saved

You have obivously swallowed the propaganda hook, line and sinker, but make no mistake: Brexit is a crushing defeat for democracy, not a victory at all. It's only a victory for reactionary right-wing ideals (that are economically untenable in the modern world).

1 ( +14 / -13 )

No deal would have been better. Could have revisited the whole thing in a few years with a clean slate. At least it’s over with and England has regained its sovereignty. Time for more countries to wise up and leave the Franco-German club.

-11 ( +9 / -20 )

The amusing part of the fishing quotas drama is that a large percentage of the UK’s quota is actually sold to EU boats.... The whole thing was a red herring!

But at least we get blue passports and the chance to wait in long lines if we visit the EU...

and the unicorns of course. Don’t forget the unicorns!

8 ( +13 / -5 )

Brexit is a crushing defeat for democracy

Another sore loser who even now cannot/refuses to accept the legitimate results of a national referendum.

-5 ( +11 / -16 )

No deal would have been better. Could have revisited the whole thing in a few years with a clean slate.

No deal would have crippled Britain economically.

It's still a much worse deal than Britain had as a member, but hey, the little Englanders have got their "sovrinty".

And they'll soon start moaning once they get hit with massive roaming charges on their smartphones or find that they can't get free healthcare in Europe when they're on holiday.

2 ( +10 / -8 )

Let not get into a media rhetoric/propaganda “cave in” sensationalist culture, win/lose scenario.

It is frankly false and disingenuous.

There has to be trade-offs in any sector wide negotiation, think give and take.  

OK, let break this down and take the EU perspective first.

Later the UK, when I get hold of the full text.

EU-UK Trade and Cooperation Agreement: protecting European interests, ensuring fair competition, and continued cooperation in areas of mutual interest.

https://ec.europa.eu/commission/presscorner/detail/en/ip_20_2531

Happy Christmas to all, I am on my own today. So, I have the time to fully give the first one hundred pages the full skinny.

1 ( +3 / -2 )

Another sore loser

I'm not British and have no skin in the game, just watching objectively what happened in the past 5 years, and facepalming repeatedly.

who even now cannot/refuses to accept the legitimate results of a national referendum.

The results were legitimate, yes. I don't think anybody would dispute that. But the referendum wasn't exactly made on honest talking points, therefore its legitimity can be questioned. It was basically a political ploy by the English right based on incredibly stupid lies yelled very loudly to scare common folks into believing the UE was their enemy. But the only enemy of the common folks... Is actually the English right.

And a lot of people have actually realized it by now.

https://www.businessinsider.com/brexit-poll-minority-believe-was-right-to-leave-the-eu-2020-9

Once uncertain voters are removed from the total, the poll suggests 56% think Brexit was a mistake compared to 44% who still think it was right.

You're of course free to revel in this "victory", in which you have gained absolutely nothing and by all standards will make life more difficult for English people.

-1 ( +11 / -12 )

No deal would have been a disaster for the U.K.

5 ( +10 / -5 )

At least it’s over with and England has regained its sovereignty. 

England? I think you'll find that England remains part of a union called the UK.

8 ( +9 / -1 )

No deal would have been better. Could have revisited the whole thing in a few years with a clean slate. At least it’s over with and England has regained its sovereignty.

The UK.

Hoping this gets through the parliaments and it looks like Labour will support it in the Commons. I just want this over. Brexit has dominated our politics for 4 and a half years and seen attention diverted away from other areas needing attention. Like the majority of the country, I don’t have much faith in Johnson to lead us, but the sake of the country, let’s hope things improve.

6 ( +7 / -1 )

You're of course free to revel in this "victory", in which you have gained absolutely nothing and by all standards will make life more difficult for English people.

British people. This is not a pedantic point. An honest appraisal of Brexit is that it has increased the possibility of Scottish independence and Irish unification.

9 ( +10 / -1 )

It's a divorce and people rarely get everything they want when breaking up.

A "divorce" is a poor analogy because the UK and the EU are going to continue living in the same rooms in the same house and continue doing many things for each other as before. At the end of a marriage, there are many other potential partners you can go away with and to hell with your previous partner. The UK is not physically going anywhere and a huge chunk of its trade will be with the EU. There is no other region that is just as close and has just as many wealthy customers.

7 ( +7 / -0 )

From the hard Brexit side, Farage is worried that the deal is being deliberately rushed through without time to look at it in detail.

6 ( +7 / -1 )

The AvengerToday  07:19 am JST

The EU will welcome Ireland and Scotland.

Do they need to welcome Ireland? It's been a member state of the EU since 1973.

4 ( +5 / -1 )

The pro-remain folks, as usual, are speculating on what they think will happen in the future, but expressing their beliefs smugly as fact. Sorry, folks, you're predictions have a terrible track record. Collapse of London's financial markets? Didn't happen. Outflux of capital? Nope. Banks rushing out of London? Nope.

You were wrong those times, and I'm betting you're wrong now.

-3 ( +11 / -14 )

 Sorry, folks, you're predictions have a terrible track record.

You must not be following the news.

From the start in 2016:

https://www.theguardian.com/business/2016/aug/23/uk-investment-funds-suffered-5-billion-pound-outflows-after-brexit-vote

UK investment funds suffered £5.7bn outflows after Brexit vote

https://www.ft.com/content/08d69c4b-65b6-3e2a-b7f6-ee3647bb4e67

UK fund outflows accelerate as no-deal Brexit looms  

https://www.bloomberg.com/opinion/articles/2020-12-04/brexit-the-city-of-london-has-lost-clout-whether-there-s-a-deal-or-not

London Has Lost Its Clout, Brexit Deal or No Brexit Deal

Or you can simply read a handy overview on wikipedia:

https://en.wikipedia.org/wiki/Economic_effects_of_Brexit

(tl;dr: it's mostly bad)

So it would be wise to actually inform yourself before forming opinions.

2 ( +8 / -6 )

But there again many of us expats no longer have NHS healthcare and need health insurance when visiting.

If you are not paying your NI contributions from Japan, then yes. But why wouldn't you? Class 2 NI contributions are a steal. I can still use the the NHS and get my full UK state pension despite living in Japan.

2 ( +6 / -4 )

Brexit -- Months of disagreement come to an end :

Don't get over- euphoric yet, nothing is exactly over.

Wait for more things to get unfolded and the official announcement declared first..

3 ( +4 / -1 )

The pro-remain folks, as usual, are speculating on what they think will happen in the future, but expressing their beliefs smugly as fact. Sorry, folks, you're predictions have a terrible track record. Collapse of London's financial markets? Didn't happen. Outflux of capital? Nope. Banks rushing out of London? Nope. 

You were wrong those times, and I'm betting you're wrong now.

Indeed, The fear-mongers even predicted the UK would run out of food after a few months (or was it weeks?)

There is no limit to how outlandish their claims are.

-9 ( +4 / -13 )

@JeffLee

Sorry, folks, you're predictions have a terrible track record.

I hate to gloat but my predictions actually did come true. Look at what I predicted back in early 2017 when the number of migrant channel boat crossings was 0:

"...that probably won't stop people trying to reach the halfway point in the channel on homemade rafts, something they've had little incentive to attempt so far because of the Dublin regulations, but this could change." -M3M3M3, Jan 9th 2017

According to the BBC, "More than 7,400 people have been intercepted crossing the English Channel in 2020". Even you have to admit I was right on this. Leaving the EU and falling back on the UN Refugee Convention has created this problem.

https://japantoday.com/category/features/opinions/a-messy-march-of-folly-to-brexit-and-beyond

3 ( +5 / -2 )

M3, you must have an opinion on.....

Britain, EU reach post-Brexit free-trade deal.

It is not as if you are a refugee or a migrant crossing the channel on JT.

2 ( +5 / -3 )

Looks like a lot of straw man arguments on both sides here, and pointless and cringeworthy told you so crap.

Any predictions on how long the state of the British economy will be blamed on or credited to Brexit depending on your ‘side’?

7 ( +7 / -0 )

There isn’t such a thing like free-trade, not there and not anywhere else.

4 ( +5 / -1 )

@itsonlyrocknroll

M3, you must have an opinion on.....

Britain, EU reach post-Brexit free-trade deal.

Until the full agreement is published there's not too much to critique. It looks like a low resolution deal meant to avoid chaos and preserve the status quo on trade and a few other issues. I think most people expected this. With the end of free movement and financial passporting, it looks like a fairly standard trade agreement.

@Jimizo

Any predictions on how long the state of the British economy will be blamed on or credited to Brexit depending on your ‘side’?

Some people still blame Britain's industrial decline on the pre-mature withdrawal of steam on the railways and the closure of the mines. And to be fair, there's some truth to this. Every action has long-term consequences which reverberate decades into the future.

2 ( +3 / -1 )

Happy Christmas M3. didn't mean to kick the armchair.

It is a thin treaty, early media profile.

Yet 2000 pages?

Financial services to be negotiated New Year Jan/Feb

Yet.....

'Glad tidings of great joy': Boris Johnson….

Two thousand pages

It is not something that anyone would wrap up, or in their right mind or contemplate hanging off a Christmas Tree

https://www.dailymail.co.uk/news/article-9086597/Eurosceptics-welcome-Brexit-deal-Keir-Starmers-Labour-come-onside.html

Early days, one must consider the time frame for scurrility.

Page by page, line by line, 2/3 days, not possible.

There could be a hornets nest of treaty nasties.

-4 ( +1 / -5 )

Another sore loser who even now cannot/refuses to accept the legitimate results of a national referendum.

After so much wasted time, money and needless division, spinning this as a ‘win’ is a stretch.

3 ( +8 / -5 )

@itsonlyrocknroll

Early days, one must consider the time frame for scurrility.

Page by page, line by line, 2/3 days, not possible.

There could be a hornets nest of treaty nasties.

Thank you, Happy Christmas to you too. I haven't been following too closely so I may be wrong on this, but I think most of the deal is similar to the drafts which were circulating earlier this year. That was around 400 pages of substance. I think the rumoured 2000 pages likely includes reservations and annexed regulations for reference purposes. This was the case with CETA which ran to around 1500 pages. We shall have to wait and see I guess.

2 ( +3 / -1 )

The thing is 2000 pages long so how many people have read it? But from the content that has been reported it looks like Boris caved, and EU got what they wanted.

For example, the EU continues to plunder Britains fish resources as before, and the UK accepts EU standards decided in.... drum roll... Brussels.

Looks very much like Theresa Mays fake Brexit in new clothes. Big disappointment.

-7 ( +1 / -8 )

Best be prepared, and wait for the full legal text.

Emmanuel Macron for all of his aggressive petulance over fisheries could have sleepwalked into a political and economic trap, at the cost of a clear evolution, regulatory equivalence provision.

Also, Emmanuel Macron may have, instead of communicating with Johnson, sown this whole debacle for EU freight and lorry drivers stranded in Southern England.

How many of these self employed drivers, haulage companies, originated from EU member states.

Grounded in Southern England, unable to ply there trade?

Think of a percentage?

Emmanuel Macron, in a fit of pique, failed to consult fellow EU member states.

European Commissioner for Transport described Macron actions deplorable.

-2 ( +2 / -4 )

Collapse of London's financial markets? Didn't happen. Outflux of capital? Nope. Banks rushing out of London? Nope.

Actually a lot of money has already left London. Banks have been transferring balance sheets to European subsidiaries for several years.

6 ( +7 / -1 )

The marathon Brexit poker game ended, as expected, in an eleventh-hour deal of sorts because both sides knew from the start that nobody could go home with all the chips. Now the gleeful little Englanders can have their Full-English Brexit and eat it (or choke on it?), but the game is not over yet and I expect that Bojo's triumphant (?) deal du jour will leave an awful aftertaste that, in the end, only rejoining Europe will be able to fix.

-1 ( +4 / -5 )

Ah_so the costs are eye watering, between 10 to 15 times Frankfurt alone.

The EU insistence on a defined specific supervisory architecture, three European supervisory authorities and an additional board to monitor systemic risks.

There is also questions in respect to bilateral investment protection agreements.

No Investment Bank with a head on there shoulders would ever consider transferring balance sheets without clear bilateral guaranteed risk investment protection agreements.

The investment instrument, product would be non-viable.

-5 ( +1 / -6 )

OK the UK government view summary explainer.

Agreements reached between the United Kingdom of Great Britain and Northern Ireland and the European Union  

This document summarizes the Agreements between the United Kingdom and the European Union.

https://www.gov.uk/government/publications/agreements-reached-between-the-united-kingdom-of-great-britain-and-northern-ireland-and-the-european-union

-4 ( +1 / -5 )

After so much wasted time, money and needless division, spinning this as a ‘win’ is a stretch.

It is a win for democracy. It took four years to beat back the bureaucracies attempts to thwart the will of the people. There were actually attempts for a do ever to stop it. There are anti-democratic forces that wish to subvert local rule throughout the first world with international socialism even on the march in the US. It is shocking how fragile democracy actually is today.

-8 ( +1 / -9 )

A wonderful Christmas present for Brits and Europeans alike. No tariffs, not quotas in their trade, and the UK now is now on course for greater sovereignty. A win-win

Uh @JeffLee, I hate to point this out, but the ‘no tariffs, no quotas’ refers to trade in goods, and the UK runs a pretty massive trade deficit with the EU in the trading of goods. Trade in services, where the UK runs a trade surplus with the EU, will be subject to all sorts of tariffs, quotas, and barriers. The EU got the long straw on this one. EU goods can flow freely into Britain, but London’s status as a center on the European service industry is over.

7 ( +7 / -0 )

To quote BoJo yesterday:

that's the good news from Brussels, now for the sprouts.

"The UK will still be hoping that the EU issues an "equivalence" decision on financial services in the near future, but service companies in general have not got as much help in this deal as the British government had been pushing for. The guaranteed access that UK companies had to the EU single market is over."

https://www.bbc.com/news/55252388

"According to recent statistics, the UK has the highest services trade to GDP ratio of the G7 group of countries and the services sector accounted for 80 per cent of the UK’s GDP."

https://www.gov.uk/government/news/the-uk-services-economy-and-digital-trade

Not so many leftovers on Boxing Day.

4 ( +4 / -0 )

At least it’s over with and England has regained its sovereignty.

It's the UK, not England, and it's a sovereign state. Membership of the EU did not make it otherwise.

Time for more countries to wise up and leave the Franco-German club.

You'll be ok with the 6 counties leaving the UK and Scotland achieving independence?

Only fair. The UK had but a few years waiting to leave.

There are anti-democratic forces that wish to subvert local rule throughout the first world with international socialism even on the march in the US.

Stimulus packages and bailing out people from poverty is both socialism and democracy.

It is shocking how fragile democracy actually is today.

It's shocking how so much mischievous misinformation is lobbed about today.

5 ( +5 / -0 )

Alternate take; migrants will have checks on their origins to meet UK regulations and migrants will no longer be able to travel, work or live freely in the UK without those checks.

Just like British people no longer being able to travel, work or live freely in the EU.

No more odd-job bob-a-jobs, abroad, bob.

5 ( +5 / -0 )

There are anti-democratic forces that wish to subvert local rule throughout the first world with international socialism even on the march in the US. It is shocking how fragile democracy actually is today.

I’m not sure if you are joking or not.

5 ( +5 / -0 )

Brexit is a crushing defeat for democracy, not a victory at all.

How is it a crushing defeat for democracy when the majority voted for Brexit?

-4 ( +1 / -5 )

How is it a crushing defeat for democracy when the majority voted for Brexit?

It has to have been the most mendacious, vacuous political campaign seen in the Europe since the 1940s.

1 ( +1 / -0 )

@Toasted

Just like British people no longer being able to travel, work or live freely in the EU.

Misleading to say that. As a Canadian, for example, I can go to the US for a visit easily, maybe not entirely "freely," ie, not showing a passport or passing an immigration counter, but it's extremely easy to the point of being a non-issue for me and 100s of millions of other North Americans. The arrangement is expected to be the same vis a vis UK-EU.

How is it a crushing defeat for democracy when the majority voted for Brexit?

Exactly. I call it "entitlement."

-2 ( +0 / -2 )

It's better there has been an agreement but I can't see how in the long term this will benefit The UK.

It might benefit a few people but the majority of decent British citizens will rue this.

1 ( +2 / -1 )

Jsapc

You have obivously swallowed the propaganda hook, line and sinker, but make no mistake: Brexit is a crushing defeat for democracy

Errr.... can you explain why ignoring a national referendum would be more democratic? I am curious, Thanks.

-2 ( +0 / -2 )

Just like British people no longer being able to travel, work or live freely in the EU.

Misleading to say that

Not in the least. Apart from the passport requirement (as the UK doesn't have a national ID card system), Brits were free to go absolutely wherever they wanted, for as long they wanted, in the EU. That is no more.

-1 ( +0 / -1 )

@Mickelicious

It'll be same general arrangement as with NAFTA, which is supported and popular among a big majority of North Americans. Indeed, the same general arrangement as nearly all the other major trade arrangements, like ASEAN.

-1 ( +0 / -1 )

Brits cannot live freely in the EU anymore. Their initial leave to stay is limited to 90 days. There is no more automatic interoperability of professional qualifications, and they must get work visas to relocate within Europe. That is huge.

The agreement is for goods only, for which EU27 has a trade surplus. Services - which account for 80% of UK GDP - are not included in the agreement.

Ten years hence, there'll be a United Kingdom of England and Wales. I wish them the best of British luck.

-1 ( +0 / -1 )

@Mickelicious

That is huge.

That is "normal." (Naturally, you didn't mention that unemployed/undesirable Europeans will no longer be allowed to hang around the UK indefinitely.)

The new agreement is now in line with global norms. Canadians going to the US, for example, are subject to the same basic rules. But many do work in the US, based on their job experience and demand for their skills by US employers.  And many Canadians are "snow birds," spending winter months in places like Arizona. That's how it should be. EU enlargement, by contrast, was a disaster, especially for the UK, which is the region's most popular country.

North Americans are happy with current arrangements, and UK and Europeans will be too once it goes into practice.

0 ( +0 / -0 )

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