Is This The Most Underrated Risk To A Brexit Deal?

Zero Hedge | 11/16/2018 | Staff
penaert (Posted by) Level 3
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A brewing leadership challenge and the prospect of more ministerial resignations has kept the coverage of the slow-moving Brexit trainwreck focused squarely on the 568-page draft Brexit treaty that UK Prime Minister Theresa May is desperately struggling to ram down the throats of Tory Brexiteers. Much of this struggle has focused on what many believe are too-vague parameters surrounding the mechanism for the UK to exit the EU customs union if the transition period is extended, or the trade 'backstop' triggered, should negotiations over a future UK-EU trade deal drag on past the December 2020 transition period deadline.

But the UK isn't the only party that has reservations about the final deal, which must not only pass muster in Westminster, but also meet approval from all 27 European Union governments. And in a report published Friday morning, Buzzfeed reminded the world that this outcome - taken as a given - isn't entirely assured.

Capitals - Draft - Brexit - Deal - Year

Though European capitals largely welcomed the draft Brexit deal after more than a year of contentious negotiations, notes seen by Buzzfeed suggests that some capitals swallowed the deal only after objecting to certain aspects. These could still prove unpopular when as the deal is being finalized, or when it eventually comes up for a round of votes.

According to the notes, various European capitals raised questions about the treatment of common fisheries, the possibility of extending the Brexit transition period and how social security systems would be coordinated, among others.

Element - Deal - Resistance - Europe - Capitals

The element of the deal that met perhaps the most resistance from Europe, as capitals questioned the wisdom of granting the UK access to the single market during the transition without Britain reciprocating access to its water.

But the hottest issue for many governments is the...
(Excerpt) Read more at: Zero Hedge
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