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12/11/2019, 4:45 PM (Source: TeleTrader)
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Barnier said Brexit trade deal not finalized by 2021 - report

European Union's Chief Brexit Negotiator Michel Barnier stated that the post-Brexit trade deal proposed by the current United Kingdom Prime Minister Boris Johnson can't be finalized by 2021, the Independent reported on Wednesday, citing an alleged Barnier's audio recording it obtained.

In the recording, the bloc's negotiator reportedly addressed several EU lawmakers in a private meeting. "We will not get everything done in 11 months," Barnier told them regarding Johnson's suggested time schedule to get the EU-UK trade deal done, following Britain's departure from the bloc.

A mutual decision by both sides to prolong the transition period by 2021 or 2022 will be made in June 2020. However, "if there is no extension, we will still have a few months to achieve what I would describe as the minimum necessary for the economy and security or to prepare for a cliff-edge," Barnier added.

Breaking the News / MS