EU-UK: time is running out, a deal is needed urgently

There might not be enough time to conclude and ratify a deal in time

This week will be the last official round of negotiations currently foreseen between the EU and the U.K. Business is increasingly alarmed by the complexity of issues that still need to be addressed and the little time left until the end of the transition period.

BusinessEurope Director General Markus J. Beyrer said: "We are sleepwalking into a precipice. Going from full market integration to a no-deal scenario would have devastating consequences for companies that are already struggling with the impact of COVID-19. We urge both sides to show a strong political will to find a compromise and define a clear path that could rapidly lead us to a deal. 

European business is still convinced that a reasonable outcome is possible, keeping trade as frictionless as possible while safeguarding a level playing field. Trust is key and previous commitments, in particular the Withdrawal Agreement, must be fully respected and implemented," Beyrer added.