Yet another EU threat, says UK PM’s Spokesman over French financial services move

Boris Johnson, a spokesman for Prime Minister said that the bloc issuing threats at any sign of difficulty. A good example for this is a French move to delay a European Union financial services deal with Britain over fishing access.

Until Johnson grants EU fishermen fair access to British waters, Paris has said it will delay the financial services deal. Last year, Britain has completed its exit from the EU. And so, the relation between the two sides has soured. This is because both sides accuse the other of acting in bad faith over fishing and trade with Northern Ireland. This took place just months after signed a trade deal.

The post-Brexit dispute over access to the UK’s rich fishing grounds last week saw France and Britain send patrol vessels to the Channel island of Jersey as French trawlers protested there. He told the reporters that they are taking a consistent and evidence-based approach to licensing EU vessels using information supplied by the European Commission. This is another example of the EU issuing threats at any sign of difficulties instead of using the mechanisms of their new treaty to solve problems. They have always been clear that an agreement on financial services is in the best interest of both sides.

When the UK completed its departure from the bloc, Britain’s huge financial services sector was largely cut off from its biggest export customer, the EU. Britain and the EU have agreed on a memorandum of understanding on cooperation between financial regulators. But the bloc’s 27 member countries, including France has yet to formally ratify this.