UK Brexit: Brussels venue where Barnier, Frost are meeting

The European Union's chief Brexit negotiator Michel Barnier and his UK counterpart David Frost met in Brussels on Friday as a deadline to forge a last-minute trade deal loomed. As the pair held discussions in the Belgian capital, British Prime Minister Boris Johnson said it ws "very, very likely" that the negotiations on a new economic relationship to take effect on January 1 will fail to strike a deal.

Johnson and European Commission President Ursula von der Leyen have set a Sunday deadline to decide whether to keep talking or prepare all-out for a no-deal break. Britain left the EU on January 31 but has continued to follow the bloc’s rules during a transition period that lasts until the end of the year. While both sides want a deal on the terms of a new relationship, they have fundamentally different views of what it entails.

The EU fears Britain will slash social and environmental standards and pump state money into UK industries, becoming a low-regulation economic rival on the bloc’s doorstep, so it is demanding strict “level playing field” guarantees in exchange for access to its markets.The UK government claims the EU is trying to bind Britain to the bloc’s rules and regulations indefinitely, rather than treating it as an independent nation.

(Image Credit: AP)