The Brexit negotiations appear to be making enough progress to let the next phase of talks—on the transition and future ties—to begin early next year, writes Charles Grant for the Financial Times. But Britain still doesn’t seem to understand two things: the EU holds all the cards, and it’s not all about the money.
“Some British ministers have a touching faith in the desire of the other 27 members to forge a partnership that maximizes economic benefits for all concerned. Unfortunately for the UK, however, the EU’s approach is driven less by economics than by a mix of high principles and low politics,” Grant argues.
“Its principles are to maintain the unity of the 27, the autonomy of its decision-making procedures, and the indivisibility of the single market’s ‘four freedoms’ (of goods, services, capital and people). This means that a country restricting free movement cannot be in the single market. The politics are to protect services firms from UK competition and to steal business in areas such as finance and aviation—while demonstrating to everyone that leaving the EU does not pay.”
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“Some British ministers have a touching faith in the desire of the other 27 members to forge a partnership that maximizes economic benefits for all concerned. Unfortunately for the UK, however, the EU’s approach is driven less by economics than by a mix of high principles and low politics,” Grant argues.
“Its principles are to maintain the unity of the 27, the autonomy of its decision-making procedures, and the indivisibility of the single market’s ‘four freedoms’ (of goods, services, capital and people). This means that a country restricting free movement cannot be in the single market. The politics are to protect services firms from UK competition and to steal business in areas such as finance and aviation—while demonstrating to everyone that leaving the EU does not pay.”
Back to Economics & Trades
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