Up the chain: Boris and Ursula try to seal a deal before Christmas
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PM Boris Johnson and European Commission President Ursula von der Leyen are said to be in “close contact” in a last-ditch bid to secure a post-Brexit trade deal.
Talks on the future relationship between the UK and the EU have now dragged on for four and a half years.
Read more: One final push but fishing still an obstacle to trade accord
The transition period ends in eight days, at which point the UK will leave the Customs Union and the Single Market.
Talks are expected to pause for Christmas on Thursday, with a restart date not yet clear.
Michel Barnier has told members of the European Parliament that he has taken his offer on fishing as far as he can go.
Ms. von der Leyen and Johnson must come to a compromise agreement on how much the EU will pay for its fishing catch in UK waters.
The current disagreement comes down to a matter of a few hundred million euros.
Trade between the UK and the EU totalled £668bn in 2019.
Read more: City analysts wait for a deal that makes too much sense not to do
City figures continue to expect a deal to be struck.
David Buik said it makes “too much sense not to do it.”