New: Barnier: “Final push” in negotiations but no plan for extension
EU negotiator Michel Barnier has said that negotiations are at a “crucial moment” as he effectively ruled out any extension to the transition period.
He told media that “we are giving it a final push” but warned that the UK “will leave the single market” in 10 days’ time.
Some, including Mayor of London Sadiq Khan, have called for an extension to the transition period due to the Covid-19 pandemic.
Read more: City analysts wait for a deal they feel is too important not to be done
But Barnier gave no indication that was under consideration this afternoon.
Fisheries and the level playing field remain the main obstacles to a deal, negotiations for which have now lasted almost four and a half years.
City analysts still expect a deal to be done but fear sterling would slip dramatically if the UK left without an accord.
UK negotiator David Frost is meeting regularly with Barnier, and PM Boris Johnson spoke to European Commission President Ursula von der Leyen on Monday.
If a deal is struck, it will need to be ratified by both the UK and the European Parliaments.
The EU Parliament had set a deadline of last Sunday evening if it was to convene an emergency sitting, but it is expected this would be ignored if negotiations found a successful conclusion.
Read more: Who is up, and who is down, in Westminster this year?