EGP edges lower against USD in early Monday trade    Egypt delivers over 30 million health services through public hospitals in H1 2025    Egypt joins Geneva negotiations on Global Plastics Treaty, calls for urgent agreement    Madinet Masr in talks for three land plots in Riyadh as part of Saudi expansion    Egypt's PM tells Palestinian PM that Rafah crossing is working 24/7 for aid    Egypt, Japan discuss economic ties, preparations for TICAD conference    Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt's Supreme Energy Council reviews power supply plans for 14 industrial projects    Jordan condemns Israeli PM remarks on 'Greater Israel'    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



UK trade minister says 'no deal' Brexit more likely than not
Published in Ahram Online on 05 - 08 - 2018

Britain's international trade minister says it's likely the UK will fail to agree upon a divorce deal with the European Union before it leaves the bloc in March — the latest in a growing chorus of warnings that the negotiations are in crisis.
Trade Secretary Liam Fox told the Sunday Times newspaper that "intransigence" by EU officials "is pushing us towards no deal." He put the chance of Britain crashing out without a deal at 60 percent.
Britain and the EU say they aim to hammer out an agreement on divorce terms and future trade by October so that it can be approved by all individual EU countries before the UK leaves the bloc on March 29.
But the talks have stalled, and the British government is trying to heap pressure on the other 27 EU nations to compromise by stressing the economic harm to all sides that would come from a "no-deal" Brexit that imposes tariffs and other barriers on UK-EU trade.
Fox accused EU officials of putting a "theological obsession" with sticking to the rules ahead of "the economic wellbeing of the people of Europe."
EU officials say Britain has failed to make realistic proposals about future ties. They accuse the UK of seeking to retain the benefits of EU membership — such as free trade — without accepting the bloc's rules, including the free movement of people among member states.
As the clock ticks down, British Prime Minister Theresa May's Conservative government remains split over how close an economic relationship it should seek with EU.
Fox is one of several ministers who back a clean-break "hard Brexit," while others, including Treasury chief Philip Hammond, want to keep Britain closely aligned with the EU, its biggest trading partner.
British business groups by and large agree. They say a no-deal Brexit could cause economic turmoil, bringing higher food prices, logjams around UK ports and disruption to everything from aviation to medicine supplies.
Bank of England Governor Mark Carney warned last week that the risk of an economy-damaging no-deal Brexit was "uncomfortably high."


Clic here to read the story from its source.