Hammond: UK could reject any Brexit deal excluding financial services

Ireland will come first in negotiations over Brexit and the EU-UK long term relationship, European Council president Donald Tusk said Thursday, while insisting it is not up to the UK to define the EU's interests. "In fact, this will be the first FTA in history that loosens economic ties, instead of strengthening them", the former Polish premier added.

Global trade secretary Liam Fox has urged Brexit negotiators to "keep the temperature down" as talks enter the critical future relationship phase. The second proposal is for a "highly streamlined customs arrangement, where [the United Kingdom and the EU] would jointly agree to implement a range of measures to minimise frictions to trade, together with specific provisions for Northern Ireland".

A free trade deal is likely to lead to cross-border customs and environmental health standard border checks on EU-UK trade being introduced, which is predominately carried on roll-on roll-off ferry port routes.

Hammond had said that it was "hard to see how any deal that did not include services could look like a fair and balanced settlement".

In his starkest warning yet the powerful Eurocrat said without fresh thinking from London the Brexit talks will stall - and said: "Ireland first".

Hammond will argue that Brussels originally aimed to include financial services in a free trade deal with Canada which in the end failed to provide much new access for banks.

Mike Cherry, national chairman of the Federation of Small Businesses, said discussions over future trade deals were "clearly important" but the priority for firms now was getting clarity about the immediate future with the European Union after Brexit day.

The Investment Association said protecting the ability of asset managers in Britain to serve EU-based clients was critical to avoid disruption to Europe's economy and to protect the integrity of the wider financial services industry in the UK.

He expects Britain and the European Union to agree a transition deal later this month to bridge a gap between Brexit Day on March 29 next year, and new trading relations from January 2021.

I want the broadest and deepest possible agreement-covering more sectors and co-operating more fully than any Free Trade Agreement anywhere in the world today.

'By the same token, a pick-and-mix approach for a non-member state is out of the question.

"We can deal multilaterally with the overproduction of steel, but this is the wrong way to go about it".

Mr Blair claimed last week that Brexit could "sacrifice peace in Northern Ireland" and a day afterwards Sir John threw doubt on whether the "still fragile peace process" would stay intact after our European Union exit.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

State's Wade will miss Big 12 tourney showdown with Kansas
Oh, the No. 9 Jayhawks (26-7) prevailed 83-67, but not before Kansas State trimmed a 13-point halftime deficit to two points. Marquette's another bubble team that barely avoided a devastating loss, as it edged DePaul 72-69 in the Big East Tournament.

China rubber stamps Xi's extension of power
Before Sunday's vote in Beijing, US president Donald Trump had joked that Mr Xi was "now president for life". The party has claimed that "the masses" unanimously called for the removal of term limits.

Obama is reportedly in advanced negotiations to produce shows for Netflix
Once finalized the former president and his wife, Michelle, will be involved in producing a series of shows for Netflix. It's not clear how much Netflix might be willing to pay for an exclusive deal with the Obamas.

'Sopranos' prequel film in the works with David Chase script
According to Deadline , New Line is now in the process of developing a big screen prequel to HBO's hit crime drama, The Sopranos . As those who are familiar with The Sopranos know, Chase created the HBO series, while Konner served as one of the writers.

LG G7 Neo renders surfaced online, hints iPhone X-like design
No sooner have Android manufacturers flocked to the altar of "notch" that Apple is rumoured to making plans for life without it . Apparently, that makes the iPhone X Plus bigger than any iPhone ever released, and even bigger than most phablet devices.

We'll drop our tariffs if you drop yours — Trump to EU
There is a trade deficit with the USA , meaning more American products and services are bought down under than sent the other way. We're an exporting state". "I think Gary Cohn did it in a fairly honorable way", he said. "There may be people who lose less".

Man United 2-1 Liverpool
First of all, I'm really looking forward to it but how it always is in these games, they are hard as well. It was a complete performance by us with two different halves.

Trump Says Australia to Secure Exemption From US Tariffs
Turnbull said Australia had "the closest possible military and security alliance with the United States and it gets closer all of the time".

Does Trump start trade war with EU?
European steel and aluminium associations have warned that the U.S. tariffs could cost their sectors thousands of jobs . Trump imposed the tariffs despite pleas from friends and allies who warned the new measure could ignite a trade war.

Arsenal ends EPL losing streak with 3-0 win vs
Sunday's clash was also a memorable one for Arsenal , as the club reached four figures in Premier League home goals. However, Troy Deeney's spot-kick was saved by Cech.

Giants, NFL aware of controversial Beckham Jr
It remains unknown who filmed the video, which leaked on Friday night, or when or where it was filmed. There's also white powder in the video , making the clip even more frightening for Giants fans.

Baaghi 2's romantic O Saathi
In the second half of the song it does get better, but the uninspiring lyrics act as a deadweight and never let the track soar. Choreographer turned director Ahmed Khan graced the inauguration of new dance reality show High-Fever here in Mumbai .

Man Utd open talks with Barcelona over £53m defender deal
The former Lyon defender now has a £53m buyout clause in his Barcelona deal, which makes him very appealing to United. The Premier League club are willing to pay the defender's €60m buyout clause and have offered €9m a year after tax.

NASA Juno finds Jupiter's Jet-Streams Are Unearthly
Among the scientific mysteries uncovered are freaky geometric constellations of cyclones on both of Jupiter's poles. A feature such as it is something that is like nothing else that has been observed so far in the solar system.

This Video Game Montage Explains School Shootings, According to the White House
Researchers have spent years looking for links between violent games and violent behavior , with none yet found. The meeting was ostensibly to examine what the video game industry can do to help prevent mass homicides.


More News

News
More News