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Speaking in Berlin after meeting Theresa May, the German chancellor insisted she is not “frustrated” by the U.K.’s failure so far to give a detailed account of its goals in the future economic relationship with the EU — “just curious.”
However, she appeared to offer an olive branch by suggesting that the U.K.’s hopes of a bespoke deal may be achievable. Asked about bespoke arrangements — as opposed to the starker options of single market membership or a Canada-style trade deal — she said it was “not a given” that such an arrangement “means cherry-picking.”
“In the end the outcome needs to be a fair balance that deviates from the single market and is not as close a partnership as we’ve had, but I think one can find that,” she said, according to the official translation of her remarks.
Merkel’s characterization of her post-Brexit preferred trade deal as one that is “as close as possible but … different to what Britain currently has as a member,” will be welcomed by U.K. officials pursuing a middle way between full participation in the single market and a limited free-trade agreement that would be unlikely to provide deep trade ties for British financial services firms. [...]