IMF head warns on Brexit trade deal failure

[struggle4progress]

By Faisal Islam
Economics editor
16 April 2020

Managing director Kristalina Georgieva, when asked what she thought about the prospect of no trade deal this year and no extension to talks, told the BBC that because of the "unprecedented uncertainty" arising from the pandemic, it would be "wise not to add more on top of it" ...

Asked specifically if she would advise an extension to trade talks, Ms Georgieva said: "My advice would be to seek ways in which this element of uncertainty is reduced in the interests of everybody, the UK, the EU, and the whole world" ...

The UK government chose to put into law a refusal to trigger provisions to extend the Brexit implementation phase beyond the end of the year.

That means that without a deal, the UK and EU would trade on World Trade Organization terms, including significant new taxes and checks on trade, from the beginning of next year ...

https://www.bbc.com/news/business-52304821

[struggle4progress]

1. UK will reject any EU request to extend transition

By Joe Mayes
April 16, 2020, 8:46 AM EDT

The U.K. government said it will reject any request from the European Union to delay the final stage of Brexit even as coronavirus hampers negotiations over their future economic relationship.

“Extending the transition would prolong business uncertainty,” government spokesman James Slack said on a call with reporters on Thursday, referring to the continuity period due to end on Dec. 31. “U.K. business needs to know what its future trading arrangements will be and how to adapt to them. It’s better to be clear now.”

The coronavirus has forced the two sides to put trade negotiations on hold and left businesses reeling, prompting many executives to call for an extension to the post-Brexit transition period. Under the terms of the Withdrawal Agreement, both sides have until June to propose a postponement. It would require mutual agreement to take effect.

Slack’s comments mark a hardening of the U.K.’s position: While Downing Street has long ruled out seeking an extension itself, ruling out any request from the EU side significantly increases the risk that Britain could, in effect, crash out of the bloc without a trade deal in place -- leading to the return of border controls and the end of frictionless trade ...

https://www.bloomberg.com/news/articles/2020-04-16/u-k-says-will-reject-any-eu-request-to-extend-brexit-transition-k92rc2jq

[struggle4progress]

2. UK and EU agree three negotiating rounds for post-Brexit deal

APRIL 15, 2020 / 11:34 AM / 3 DAYS AGO

LONDON (Reuters) - Britain and the European Union agreed dates for three, week-long negotiating rounds to reach a post-Brexit deal on their future relationship, a joint statement said on Wednesday, with a high-level review of progress in June.

The negotiations will take place by videoconference in the weeks beginning April 20, May 11 and June 1.

Britain is seeking a comprehensive free-trade deal with the EU, having left the bloc in January after over three years of acrimonious wrangling. It is temporarily subject to EU rules while a new permanent arrangement is worked out ...

https://www.reuters.com/article/uk-britain-eu-negotiations/uk-and-eu-agree-three-negotiating-rounds-for-post-brexit-deal-idUSKCN21X2CS

[OnDoutside]

3. At least CV has taken their minds off that looming disaster... Although

The British government's ill-fated herd immunity decision early on, is yet another example of arrogant incompetence.