"Gloom, doom and a little slice of hope: Brexit trade deal hangs in the balance"

" \n Brexit talks in recent weeks have been dominated by numerous, anonymous \u201csources\u201d briefing reporters in both the U.K. and on the continent about the parlous state of negotiations aimed at clinching a post-Brexit trade deal. \n \n\n \n Both sides have accused each other of being unwilling to compromise on key issues, with sticking points and \u201cred lines\u201d remaining over fishing rights, competition rules and the governance of any final deal. \n \n\n \n As British Prime Minister Boris Johnson prepares to travel to Brussels this week for face-to-face meetings with European Commission President Ursula von der Leyen , there is hope for a breakthrough. \n \n\n \n But in the meantime, officials on both sides continue to comment, loudly, on the efforts being made \u2014 and the remaining obstacles \u2014 before a deal can be reached. \n \n\n \n Johnson warned Tuesday that talks were not in a good place. \n \n\n \n \u201cYou\u2019ve got to be optimistic, you\u2019ve got to believe that there\u2019s the power of sweet reason to get this thing over the line. But I\u2019ve got to tell you, it\u2019s looking very, very difficult at the moment,\u201d he told reporters. \n \n\n \n Johnson will nonetheless go to the Belgian capital this week (the timing is uncertain but Wednesday or Friday have been mooted as possibilities) to meet his European counterpart, to see if in-person talks can help resolve the impasse between negotiators. \n \n\n \n Von der Leyen said Monday that both sides have asked their chief negotiators to draw up a list \u201cof the remaining differences to be discussed in person in the coming days.\u201d \n \n\n \n Britain is keen to stress it wants a deal; a no-deal scenario is likely to bring upheaval and higher costs of business to firms and exporters on both sides of the English Channel. \n \n\n \n Both sides have accused each other of making unreasonable demands. The U.K. has felt that the EU has not understood its need for sovereignty over its own affairs and future, while the EU believes it must do whatever it takes to protect the integrity of its single market. \n \n\n \n Some on the British side have accused the EU of changing the goal posts late in the talks, and of making unfair, new, demands. \n \n\n \n The U.K.\u2019s Health Secretary Matt Hancock insinuated that the ball was in the EU\u2019s court, stating on Tuesday that Johnson was \u201cstraining every sinew to try to get a deal that works for both the U.K. and the EU, that deal is potentially doable but the EU obviously has to want to do it,\u201d he told Sky News. \n \n\n \n War of words \n \n\n \n France weighed into the war of words on Tuesday, its European affairs minister reminding negotiators of one of its bug bears that a deal would have to address \u2014 fishing rights. \n \n\n \n Although a small part of the economy both in the U.K. and EU, the issue of fisheries packs an emotional punch in countries like the U.K., France and the Netherlands that have fishing communities, and where there is public pressure to defend these. \n \n\n \n France\u2019s Clement Beaune insisted that his country would not \u201csacrifice\u201d its fishing crews in any trade deal. \u201cOn fisheries there is no reason to yield to Britain\u2019s pressure. We can make some efforts but sacrificing fisheries and fishermen, no,\u201d Beaune told RMC radio, Reuters reported, reiterating that France would veto any agreement it considered a \u201cbad\u201d deal. \n \n\n \n So what do analysts think of the prospects to get a deal now as the clock ticks down to December 31, when Britain\u2019s post-Brexit transition period ends? Any deal reached by negotiators would have to be ratified by the EU Parliament so time is running out. Not all are gloomy, with one telling CNBC on Tuesday that there is still time. \n \n\n \n Steen Jakobsen, chief economist and CIO at Saxo Bank, told CNBC\u2019s \u201cSquawk Box Europe\u201d he didn\u2019t \u201cunderstand all the commotion\u201d over the current state of talks. \n \n\n \n \u201cDon\u2019t forget the EU doesn\u2019t do any deals before one minute to 12 which means we are far off the end date of this negotiation which is the end of December,\u201d he said, adding: \u201cI think it\u2019s a classic EU move.\u201d \n \n\n \n Jakobsen believed the U.K. and EU could \u201cstop the clock\u201d and continue talks beyond Dec. 31 if needs be. \u201cI agree with you that the calendar year is becoming a little bit difficult but there is ways they can do that including stopping the clock which we\u2019ve seen before.\u201d \n \n\n \n \u201cThere is a number of diplomatic ways to play this game,\u201d he said. \n \n\n \n The EU Commission reiterated on Tuesday that it did not exclude the possibility that talks could continue beyond the transition period, but the U.K. has previously rejected that option. \n \n\n \n The EU\u2019s chief negotiator Michel Barnier said Tuesday that a school, or even a university, of patience was needed, Reuters reported. \n "

"Gloom, doom and a little slice of hope: Brexit trade deal hangs in the balance"

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