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Barnier said he could envision a short transition period being agreed between the EU and the UK before March 2019 to ease the UK’s exit from the bloc, but it would require the British government accepting the continuation of EU law and the jurisdiction of the European court of justice.
A future trade deal, however, would have to be negotiated over “several years” and “will be very different” from the status quo, Barnier told a group of European newspapers.
“If we reach an agreement on the orderly withdrawal of the United Kingdom, such a [transition] period, both short and framed, is possible,” he said. “To my mind, it makes sense that it covers the financial period, so until 2020. It would leave us more time to prepare for the future relationship.
“But I insist on one point: such a period would be possible only if it is framed by the maintenance of all of the regulatory architecture and European supervision, including jurisdictional. It would maintain the economic status quo and all obligations of the UK.”
“From the moment the UK told us that it wants out of the single market and the customs union, we will have to work on a model that is closer to the agreement signed with Canada.
“The single market is a set of rules and standards and is a shared jurisdiction. Its integrity is non-negotiable, as is the autonomy of decisions of the 27. Either you’re in or you’re out.” [...]
Barnier said of the negotiations over the future that they would be highly complex and would take many years before they could be put to the national parliaments for ratification.
He said: “The two phases are difficult. The second will be very different and will last several years. It is truly unique because instead of promoting regulatory convergence, it will aim to frame a difference. It will involve risks, including about its political ratification, making all the more necessary transparency around these topics.” [...]
However, Barnier appeared to offer the British government little hope of such an advance on the Canadian deal being possible, although he acknowledged his team was working on the details of an exit treaty.
He said: “The strategic interest of our continent is to partner with this very large country with a permanent seat on the United Nations security council. But this is not a reason to undermine the single market.”
Of a no-deal scenario, Barnier said: “We do not want it at all, but we do not exclude any option. Such a scenario would cause us problems, and much larger [ones] in the UK. [...]