Brexit: “Significant differences” while time is running out

British and European Union negotiators have not reached an agreement on a new trade relationship between the two sides after the end of the Brexit transition period, London and Brussels have announced.

“After a week of intensive negotiations in London with David Frost (the British negotiator), we have concluded that the conditions for an agreement are not being met,” said European negotiator Michel Barnier.

Due to the significant differences, the talks are “frozen”, in order to receive information from the leaders in London and Brussels.

The main differences between the two sides are located in three areas:

• a level playing field,
• governance,
• fishing.

European Commission President Ursula von der Leyen and British Prime Minister Boris Johnson will discuss the “current situation” on Saturday afternoon, Borrell said.

A British government source, quoted by the BBC, said the developments were how far the two sides were.

It was preceded by a statement from a spokesman for Boris Johnson, who noted that time was running out and the talks were at a very difficult point.

Earlier, France threatened to veto a trade deal it found unsatisfactory.

With information from: Reuters, BBC