The EU’s trade commissioner has suggested there could be a last-minute trade-off with Brussels offering the city of London access to European markets in return for European fleets retaining their fishing rights in British waters. The UK’s financial services sector will lose its automatic right to serve Europe-based clients at the end of the transition period and the EU will need to negotiate access to UK waters for its fishing boats.
Hogan, a longstanding critic of prominent Brexiters including Boris Johnson, described claims that the EU would be put under pressure to seal a deal by parallel UK-US negotiations. Negotiations on the future relationship between the EU and the UK after 31 January, the scheduled date for Brexit, are expected to start in early March once both sides have settled positions on the main issues. Ursula von der Leyen, the European commission president, reiterated that the British government would also need to sign up to a series of commitments on state aid, environmental and labour standards to allow tariff- and quota-free trade.