BR100 Decreased By (-0.91%)
BR30 Decreased By (-1.47%)
KSE100 Decreased By (-0.78%)
KSE30 Decreased By (-0.75%)
AGHA 6.67 Decreased By ▼ -0.01 (-0.15%)
BECO 4.35 Decreased By ▼ -0.02 (-0.46%)
BML 56.17 Decreased By ▼ -1.15 (-2.01%)
BOP 30.12 Decreased By ▼ -0.23 (-0.76%)
CNERGY 12.98 Decreased By ▼ -0.14 (-1.07%)
CSIL 5.31 Decreased By ▼ -0.10 (-1.85%)
FCCL 51.65 Decreased By ▼ -1.14 (-2.16%)
FFL 14.49 Decreased By ▼ -0.23 (-1.56%)
FNEL 1.21 Increased By ▲ 0.09 (8.04%)
KEL 6.06 Decreased By ▼ -0.03 (-0.49%)
KOSM 5.84 Increased By ▲ 0.11 (1.92%)
LOTCHEM 26.17 Decreased By ▼ -0.29 (-1.1%)
MLCF 91.23 Decreased By ▼ -1.93 (-2.07%)
NBP 164.19 Decreased By ▼ -0.47 (-0.29%)
NCPL 53.18 Decreased By ▼ -2.48 (-4.46%)
NPL 59.12 Decreased By ▼ -2.04 (-3.34%)
OGDC 313.39 Decreased By ▼ -3.34 (-1.05%)
PACE 9.77 Decreased By ▼ -0.10 (-1.01%)
PAEL 35.24 Decreased By ▼ -0.39 (-1.09%)
PIBTL 14.71 Increased By ▲ 0.03 (0.2%)
PPL 221.36 Decreased By ▼ -5.55 (-2.45%)
PRL 91.22 Decreased By ▼ -1.80 (-1.94%)
PTC 59.19 Decreased By ▼ -1.07 (-1.78%)
SSGC 23.30 Decreased By ▼ -0.51 (-2.14%)
TBL 8.75 No Change ▼ 0.00 (0%)
TELE 7.61 Decreased By ▼ -0.19 (-2.44%)
TPL 22.03 Decreased By ▼ -0.32 (-1.43%)
TPLP 12.56 Decreased By ▼ -0.41 (-3.16%)
TREET 21.73 Decreased By ▼ -0.43 (-1.94%)
TRG 55.79 Decreased By ▼ -0.77 (-1.36%)
World

EU executive proposes ways to avoid Brexit disruption without deal

  • Commission says rail, road and air traffic must continue.
  • Warns of disruption but wants to keep Channel Tunnel open.
  • To propose 5 billion euro fund for EU companies to adapt.
Published Updated
By

BRUSSELS: The European Union set out short-term measures on Thursday to limit disruption to air traffic, road and rail transport, as well as fisheries, if Britain leaves the bloc without a trade accord by Dec. 31.

The European Commission, which presented the plans, said it was still seeking a trade agreement by the year-end deadline but that it could only soften some of the disruption predicted as Britain leaves the EU's orbit.

"While a 'no-deal' scenario will cause disruptions in many areas, some sectors would be disproportionately affected due to a lack of appropriate fall-back solutions," the Commission said in a statement.

It proposed keeping "certain air services" between Britain and the EU for up to six months, provided London ensures the same. Air safety measures would continue to be recognised, to avoid grounding aircraft. The measures would allow carriers to continue to fly over each others' territories, make stops and provide services.

Basic connections by road freight and for road passengers would also continue for six months as long as it was reciprocal. Separate regulation, if approved by EU member states, would allow the Channel Tunnel road and rail link to continue for two months, until Britain and France agree new safety and supervision certificates that are set to expire.

Without a trade deal and without regulation, the under-sea link between France and Britain would be suspended.

On fishing, the Commission said it proposed: "a regulation to create the appropriate legal framework until 31 December 2021, or until a fisheries agreement with the UK has been concluded - whichever date is earlier - for continued reciprocal access by EU and UK vessels to each other's waters after 31 December 2020."

The Commission said it would also soon propose a 5 billion euro ($6.05 billion) "Brexit Adjustment Reserve" as part of the EU's new 2021-2027 budget to help EU businesses adapt.

"The Commission sees no need for any other Union-wide, legislative contingency measures than those proposed today," the EU executive said in a separate statement.

Comments

Comments are closed for this article.