The last-minute delays came after European officials had confidently told journalists on Wednesday afternoon: "We are in the final phase." The deal, if it is confirmed, would come just days before Britain is set to leave the EU's single market at the end of the year, sparing the two sides from trade tariffs. London has pushed to reduce EU fishing fleets' share of the estimated 650-million-euro ($793 million) annual haul by more than a third, with changes phased in over three years. The EU, in particular countries with northern fishing fleets like France, Denmark and the Netherlands, was insisting on 25% over at least six years. Failure to reach a deal would mean tariffs on cross-Channel trade in food and goods, exacerbating the economic shock of a return to a customs border after 47 years of integration.

Source: Dhaka Tribune December 24, 2020 08:37 UTC