FTSE rising whilst prospect of FTA seems to be fading

Alexland

MK62 said:

This "deal", whatever it actually is, has still to be ratified by both sides, so perhaps we shouldn't be counting our chickens just yet.......there's plenty of mileage still left in this saga I suspect.

I doubt the commission would progress a deal if they seriously considered a veto will be used (some countries might threaten to get some other advantage within the EU but that's not our business). They will be checking temperatures for agreement in advance. Everyone is so tired of this that anyone trying to reopen the deal wouldn't get much support.

Sailtheworld

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A vote to leave the EU was a vote to make trade with the EU more difficult. This was known when we stepped into the polling booths on referendum day.

Sailtheworld

Thrugelmir said:

MK62 said:

A bit pedantic......yes, Spain could object, as could France, or indeed even Wallonia......and even if they all agree to ratify, the EU Parliament could still veto, as could the UK Parliament.......anyway, the point is that ratification of any deal is far from certain, even if the UK and EU can agree on a deal to propose.

 At least the UK can now move forward irrespective of internal EU political bickering. History within the EU sugggests there's always one party that raises objections. The positive is that the challenges created by Covid can be focused on fully with no distractions. 

This deal is going to go through; everyone is mightily sick of the whole thing.
It's wishful thinking to think that somehow this draws a line in the sand - it doesn't; this is just another step in the process of forming a new relationship with the EU.

MK62

Alexland said:

MK62 said:

This "deal", whatever it actually is, has still to be ratified by both sides, so perhaps we shouldn't be counting our chickens just yet.......there's plenty of mileage still left in this saga I suspect.

I doubt the commission would progress a deal if they seriously considered a veto will be used (some countries might threaten to get some other advantage within the EU but that's not our business). They will be checking temperatures for agreement in advance. Everyone is so tired of this that anyone trying to reopen the deal wouldn't get much support.

Possibly true....but it's happened before, and we certainly know that it's happened here in the UK recently...

MK62

Sailtheworld said:

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A vote to leave the EU was a vote to make trade with the EU more difficult. This was known when we stepped into the polling booths on referendum day.

That works both ways though........and that's the dilemma for the EU......making trade more difficult hurts the UK granted, but there's no way for them to do it without hurting EU countries too (some would argue more, due to the trade defecit, but personally I think that's always been somewhat debatable)

Alexland

Waiting for this agreement to be announced is starting to feel like pacing time in the hospital waiting for a baby to be born knowing that if you go to the shop for some crisps it might have happened and you missed it. Oh well CTY closed the day nearly 2% up with the global trackers over 0.5% down so I'm happy with that for now.

Thrugelmir

Alexland said:

Waiting for this agreement to be announced is starting to feel like pacing time in the hospital waiting for a baby to be born knowing that if you go to the shop for some crisps it might have happened and you missed it. Oh well CTY closed the day nearly 2% up with the global trackers over 0.5% down so I'm happy with that for now.

If there wasn't the need to fill 24 hours new coverage then it would just be another day at the office. There's a lot of legalese to be drafted. 

Sailtheworld

MK62 said:

Sailtheworld said:

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A vote to leave the EU was a vote to make trade with the EU more difficult. This was known when we stepped into the polling booths on referendum day.

That works both ways though........and that's the dilemma for the EU......making trade more difficult hurts the UK granted, but there's no way for them to do it without hurting EU countries too (some would argue more, due to the trade defecit, but personally I think that's always been somewhat debatable)

I thought that went without saying. Even if there was an oven ready easiest trade deal in history the referendum result guaranteed increased barriers to trade.

It's not just with the EU either. It's internal trade - shipments to NI are treated as if they're an export to the EU. For food that means £150 for a vet inspection & certification (paid for by the taxpayer) and increased document costs (paid for by the consumer).

Hopefully this deal at least reduces the height of the barriers that were heading our way 01/01/2021. 

Alexland

Thrugelmir said:

There's a lot of legalese to be drafted. 

Oh well it looks like they have a rough draft agreed now.

Sailtheworld

Thrugelmir said:

Alexland said:

Waiting for this agreement to be announced is starting to feel like pacing time in the hospital waiting for a baby to be born knowing that if you go to the shop for some crisps it might have happened and you missed it. Oh well CTY closed the day nearly 2% up with the global trackers over 0.5% down so I'm happy with that for now.

If there wasn't the need to fill 24 hours new coverage then it would just be another day at the office. There's a lot of legalese to be drafted. 

When businesses trying to move goods across borders don't know (on Christmas Eve) what the rules will be on 01/01/2021 it's anything other than just another day at the office.

Hopefully the transition will be extended to the end of March to give business time to prepare but that doesn't seem to be on the cards.