If the European Union and Great Britain fail to reach a trade agreement within eleven months next year, it could still lead to a no-deal Brexit. Leaving with a hard break on December 31, 2020, would harm not only the EU, said European Commission President Ursula von der Leyen. "But it would have even more impact on the United Kingdom," she warned.
British Prime Minister Boris Johnson does not want to extend the transition period under any circumstances, which runs from January 31 until the end of 2020. According to EU negotiator Michel Barnier, it is impossible to conclude a comprehensive trade agreement in such a short time. He again pointed to the possibility of extending the transition period. This can be done for one or two years, but the Brits must apply before July 1.
Barnier previously negotiated with the British about Brexit and is also handling negotiations for a future trade agreement. The British are set to leave the EU on January 31 if all goes well. After that, a transition period begins during which they still adhere to European rules until the end of this year. It has been agreed that this period can be extended by two years, but Prime Minister Boris Johnson is determined to prevent that.
Johnson’s stance makes it difficult, Barnier realizes. "The time pressure could limit ambitions," said the Frenchman.
The negotiator on behalf of the European Parliament, Belgian liberal Guy Verhofstadt, has also warned that the European Parliament will set conditions on a Brexit treaty. The EP in Strasbourg must – just like the European heads of state and governments and the European Commission – formally approve a Brexit arrangement. Verhofstadt has previously stated that the rights of British residents of the EU and the rights of EU citizens in Great Britain must be legally secured.