Read more about Brexit deal done: What’s in it and where next for the Britain and EU? on Business Standard. The negotiators ignored the background noise and succeeded in drafting a dense legal document on which the future of UK-EU relations now hangs
To misquote Shakespeare, our negotiating revels now are ended. The tempestuous talks did not lead to a dramatic walkout, even if at times the UK government gave the impression this was a feud worthy of the Montagues against the Capulets. The negotiators ignored the background noise and succeeded in drafting a dense legal document on which the future of UK-EU relations now hangs. The UK was adamant throughout the negotiations that it be treated as a sovereign equal of the EU and have its independence respected. This was particularly important when it came to fishing rights – one of the last issues to be resolved. There were always two problems with this argument. Firstly, as explained by the Spanish foreign minister – a veteran trade negotiator – a trade agreement is designed to establish interdependence rather than being an exercise in asserting independence. Secondly, the EU is simply a bigger beast economically speaking than the UK. This meant Brussels was confident it could weather the disruption of a no-deal separation better than the UK. By refusing to extend the transition period despite the pandemic, prime minister Boris Johnson ensured both parties faced the same time pressure. But they did not face the same level of risk if no agreement was reached. Hence the real ringmaster of the deal was Father Time, not Johnson or Angela Merkel, as UK newspapers often reported. Nevertheless, it looks like the UK government will claim victory by arguing that it is now able to escape the jurisdiction of the European Court of Justice while getting tariff and quota-free access for goods exported to the EU. In a statement immediately following the announcement of the deal, the UK government did just that: The reality though – as with everything Brexit-related since 2016 – is far more complex.
