1/14, 2:16 PM (Source: TeleTrader)
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Spain's Borrell: Brexit can be pushed back till May

In the view of Josep Borrell, a so-called hard Brexit would be devastating for both sides. Speaking on Monday, the Spanish minister of foreign affairs, the European Union and cooperation acknowledged the Parliament of the United Kingdom may not pass the existing withdrawal arrangement and noted there are a number of variations for the process further on. He raised the possibility of extending the departure date from March 29 but only until late May and the election for the European Parliament.

Its former head stressed "complex changes" would be required for Britain's participation in the vote. Turning to the effects of the uncertainty on Spain, the top diplomat asserted it wouldn't be affected as much as France, for instance, and added preparations for the case of a clean cut are underway. If the departing member state formally becomes a so-called third country, "strict sanitary and phytosanitary norms" will be applied, Borrell claimed and underscored air transportation, financial services and agriculture and fisheries as the most sensitive sectors.

He reiterated that Gibraltar's status is a bilateral matter between his country and the UK. The minister raised the Brexit example and slammed Catalan separatists, saying they claim they can get independence "overnight."

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