EU might extend deadline for trade talks with Britain: Von der Leyen

The European Union might extend the deadline for talks with Britain about new trade deal after its divorce from the 27-nation bloc. The European Commission President Ursula von der Leyen told French newspaper on December 27 that both sides need to 'seriously' think about if there is enough time to negotiate a new trade deal and sign agreements about several other issues. 

Von der Leyen also said that it would be 'reasonable' if the evaluation took place mid-year, however, if necessary, the leaders should agree on extending the transition period. British Prime Minister Boris Johnson has set a hard deadline of December 2020 for reaching a new trade deal with the EU arguing that another cliff-hanger in the Brexit deal would force Brussels to move quickly and seal the accord. However, Von der Leyen even said earlier this month that the timeframe to work out a functional trade deal is 'extremely short' to discuss other issues like education, transport, fisheries. 

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Warning against Britain

Von der Leyen issued a warning against Britain that it risks more in a post-Brexit deal that the EU. Leyen has said that if the UK fails in sealing a deal after Brexit, it will be more harmful to the country that it would be for the European Union. Britain is scheduled to leave the EU on January 31, 2020, and it will have a year from then to negotiate trade talks with the EU.  

Eurosceptic British Members of the European Parliament laughed off the warning while officials in Brussels remained pessimistic. Britain will have a year of the transitional period to seal the deal with European Union and if it fails in doing so by the end of 2020, both the EU and the United Kingdom will face a cliff edge. However, according to Leyen, it will harm Britain's interests more than it would do to the European Union. 

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Johnson who recently swept the general elections in the United Kingdom has said that he would not seek more time and is working on legislation to avoid another cliff hanger. Boris Johnson wrote history last week when he secured a majority in UK's House of Commons after winning a record 365 seats. The Conservative Party gave its best result since 1985 under the leadership of Boris Johnson.

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(With agency inputs)