French President Macron Says A Bespoke Deal With EU Could Be Possible For Britain

After Brexit is complete, a bespoke deal with the European Union would be possible for Britain to make, French President Emmanuel Macron said on Saturday. Striking such a deal is among the primary aims of British Prime Minister Theresa May.

The present Brexit trade plan with the Eu of May entails Britain exiting the single customs union and the single market and under this plan it would not be possible for London’s financial center to continue to get access to the rest of the EU market at the same rate as it does at present, said Macron said in an interview to the BBC.

Macron has said in the past Britain could have pacts with the EU along the lines of those with Canada or Norway but not its own, special deal.

Macron said: “No, it’s not a question to be fair or unfair. I take that as a reference. But for sure, you will have your own solution” when he was asked whether that would a fair treatment of Britain when one consider the duration of time that the U.K. had remained an integral pf art of the EU.

He was asked there would be any form of bespoke special deal for Britain, he said: “Sure, but you will … I take these two references because this special way should be consistent with the preservation of the single market and our collective interests.

“And you should understand that you cannot by definition have the full access to the single market if you don’t tick the box.”

The two basic issues of willingness to abide by EU jurisdiction freedom of movement would have to be first accepted by the U.K. to be able to gain complete access to the EU single market, Macron insisted.

“As soon as you decide not to join these preconditions, it’s not full access,” he said. “So it’s something perhaps between this full access … and a trade agreement.”

The warning that complete access to the EU single market by the financial service industry of Britain would not be possible was again reiterated by macron – an issue that he had brought up during a visit to Britain on Thursday.

“It depends on the proposals made by the UK,” he said. “But for sure, full access for financial services to the single market is not feasible, given the functioning of the single market – so by definition it’s not a full access.”

Talks on future trade ties between the EU and Britain has been able to begin for ensuring an orderly Brexit after a divorce deal was forged between t he two parties last month.

(Adapted from CNBC.com)

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Categories: Economy & Finance, Strategy, Sustainability, Uncategorized

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