News analysis

Details elusive amid relief over EU's trade deal with Britain

Each side claims victory but vital issues such as trade in services not covered under pact

Since the trade deal is supported by EU heavyweights such as France and Germany, the chances are high that it will be ratified by the rest of the European Parliaments, especially since most member states are delighted to see an end to this story. PHO
Since the trade deal is supported by EU heavyweights such as France and Germany, the chances are high that it will be ratified by the rest of the European Parliaments, especially since most member states are delighted to see an end to this story. PHOTO: AGENCE FRANCE-PRESSE
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Leaders in Britain and the European Union are scrambling to persuade their national Parliaments to ratify a historic deal due to come into effect at the start of the new year and designed to minimise the economic disruption created by Britain's decision to leave the bloc.

The agreement struck on Christmas Eve after the last-minute intervention of British Prime Minister Boris Johnson and European Commission president Ursula von der Leyen is the most significant single trade agreement Europe has ever contemplated, affecting a total of £660 billion (S$1.18 trillion) in yearly bilateral trade.

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A version of this article appeared in the print edition of The Sunday Times on December 27, 2020, with the headline Details elusive amid relief over EU's trade deal with Britain. Subscribe