UK – Trade talks with the EU are over

Talks between the UK and EU over a post-Brexit trade agreement are “over”, Downing Street has said.

No 10 argued there was “no point” in discussions continuing next week unless the EU was prepared to discuss the detailed legal text of a partnership.

UK chief negotiator Lord Frost said he had told EU counterpart Michel Barnier there was now no “basis” for planned talks on Monday.

Number 10 said the two sides had agreed to talk again next week – by phone.

Earlier, EU Commission President Ursula von der Leyen tweeted that the Brussels negotiating team would go to London after the weekend to “intensify” discussions.

France’s Europe minister Clément Beaune told BBC Newsnight that, while the EU would not pursue a deal at any cost, “we will listen to what the UK side wants to say to us”.

Meanwhile, ratings agency Moody’s has downgraded the UK’s credit status, citing falling economic strength due to the coronavirus pandemic and uncertainty over Brexit.

Source – BBC