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Lagard: The Corona Crisis Will Contribute To The Agreement Between Britain And The EU

Britain and the European Union (EU) will finally reach an agreement on the relationship after Brexit, as there is a lot at stake, especially their economies, which are also facing the consequences of a new coronavirus pandemic.

Lagard: The Corona Crisis Will Contribute To The Agreement Between Britain And The EU
Yazar: Tom Roberts

Yayınlanma: 18 Ekim 2020 01:08

Güncellenme: 7 Kasım 2024 11:20

Lagard: The Corona Crisis Will Contribute To The Agreement Between Britain And The EU

Britain and the European Union (EU) will finally reach an agreement on the relationship after Brexit, as there is a lot at stake, especially their economies, which are also facing the consequences of a new coronavirus pandemic. This was announced by the President of the European Central Bank (ECB) Christine Lagard during a discussion on the global economy during the annual virtual meeting of the International Monetary Fund (IMF). "When we calculate how much the United Kingdom, on the one hand, and the European Union, on the other, would be harmed by a situation without a trade agreement, it is very clear that the agreement must be," she said.

Very big egos

She added that she was optimistic about the chance of an agreement, although it could be closed "three minutes before midnight". However, the head of the ECB also pointed out that "very big egos" are embedded in the process and that differences of opinion on key issues still persist. Lagard's statement comes at a time when British Prime Minister Boris Johnson is threatening to suspend negotiations. EU leaders meeting in Brussels called on London to take the "necessary steps" and allow for an agreement on Brexit relations.

Merkel called for mutual compromises

German Chancellor Angela Merkel also commented on the talks on post-Brexit relations after the EU leaders' summit. She said that not only Britain but also the Union must compromise in order to get the talks out of the impasse. "We have asked Britain to continue to be willing to compromise on an agreement. This, of course, means that we must also make compromises," Merkel said after the summit, which also discussed the course of talks with the United Kingdom.
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