BlogNewsThe EU can't have its cake and eat it

The EU can't have its cake and eat it

The EU can't have its cake and eat it

The EU can’t have its cake and eat it and must learn to give and take, says West Midlands UKIP MEP James Carver.

The commission is poised to demand the 27 remaining states stump up the €12-€13 billion annual black hole in its budget after the UK leaves.

At the same time, it is reluctant to fairly negotiate trade deals in goods and especially services, notably financial services.

Mr Carver said: “In any negotiations there has to be give and take yet at the moment it seems the ‘give’ is all on the part of the UK and the ‘take’ is all on the part of the EU.

But if commission president Jean-Claude Juncker is going to ask member states to cough up increased contributions of their gross national income from the current level of one per cent, then he must enable them to trade with the UK, one of their biggest trading partners,

“Without us, many of these countries will struggle to afford the extra EU budget bill. Moreover, the EU risks another global fiscal crisis if it refuses to give us a good trade deal on financial services.

“The commission wants to have its cake and eat it – well that simply won’t work. Member states need to trade with us. Mr Juncker and his pals can’t stop that and at the same time seriously hope to secure a prosperous European Union.”

EU Risks Global Bank Crisis If It Blocks Brexit Deal, U.K. Warns

The European Union risks opening the door to another global financial crisis if it refuses to give London’s bankers a good trade deal, two senior U.K. ministers said, as the finance industry emerged as a key battleground for Brexit talks.

www.bloomberg.com

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