2:55:50 Yeah, I just got a basic background with Ursula. Should I do that for a sec? Just with her announcement Ursula von der Leyen is the EU president and she announced... Oh yeah! That's incorporated in most of these but go on. Yeah i'll just play this so you can hear what she had to say The United Kingdom is a third country but it remains a trusted partner we are long-standing allies It almost sounds like she wants to say the United Kingdom was a third world country But she says she calls it a third country, but I hear you Ursula. The United Kingdom is a third country but it remains a trusted partner we are long-standing allies we share the same value and interests
2:56:35 The European Union and the United Kingdom will stand shoulder to shoulder To deliver on our common global goals. At the end of a successful negotiations journey, I normally feel joy But today? I only feel quite satisfaction And frankly speaking relief Okay! I know this is a difficult day for some And to our friends in the United Kingdom, I want to say parting is such sweet sorrow. But to use a line from T.S. Eliot what we call the beginning is often the end and to make an end is to make a beginning. So to all Europeans it's time to leave Brexit behind Our future is made in Europe Thank you so much
2:57:29 So, everyone quite elated by this and it's all fab but it's not over yet. They still have not finished the details! There is now a February deadline Well there are couple of things they have to do First the Parliament has to go along with that It looks like they will But then they have to get a No Vetoes from any of these countries Any one of them can follow this deal up Yeah All 20...any of the 27 I'm expecting it. So, I have four clips but there's only two that I want to play as we wrap today. First, just to give you a little contrast, I've got the blasé Brexit report from PBS. This is all they had to say about the whole thing. Very important.
2:58:13 mechanism taking that's unfolding. It is important to the Americans, but now this PBS report The United Kingdom and the European Union made public the details of the trade deal that negotiators agreed to this past week The two sides were reviewing more than 1240 page agreement yesterday. The deal comes just days before Britain leaves the EU completely in what is known as Brexit If the British and EU parliaments approve the massive document, Britain will be able to continue to trade with 27 European Union nations without tariffs or quotas. But questions remain about security cooperation and access to the EU market for Britain's financial services sector. Thanks for the update!
2:58:57 It's like a use most useless report ever. So let's listen to a good report and I consider this the best of the group and this is from Al Jazeera, ah And this is that you find it under the letter N says no Rexit. Oh yes Report, of course. Yes New Rexit report good This is actually breaks it down pretty nicely means that the UK has voted to leave the European Union Finally, Brexit is done. Four and a half years after the referendum almost at the end of the 11-month transition period
2:59:34 The UK and the EU argued, negotiated compromised and cajoled but they've done what many feared they couldn't and agreed their future trading relationship. It's a moment of reflection for the European Commission president At the end of a successful negotiations journey I normally feel joy but today I only feel quite satisfaction and frankly speaking relief. For the UK's Prime Minister it is a political success that caps a year which gave him very few of them There will be no palisade of tariffs on January 1st, and there'll be non-tariff barriers to trade
3:00:21 Instead, there will be a giant free trade zone of which we will at once be a member and at the same time be able to do our own free trade deals. One area of dispute that's seen compromise is fishing rights. Outside the EU Britain has control over its exclusive economic zone but it had to budge on how much access EU trawlers have There's also been movement on state aid to allay EU fears European companies could suffer from unfair competition. They now both have an imperative to work together, to make this deal look as good and run as smoothly as possible, and that will minimize short-term disruption The government's independent spending watchdog says not reaching a deal would have knocked 2% off UK growth in 2021 alone partly because of temporary disruptions to cross border trade Again
3:01:13 As predicted, it's all about the fish. Which is bullshit. But yeah it's all about the fish and for the trolls in the troll room he said trawlers not trollers Everyone perked up EU Trollers? What what Is there a troll club we're not in? No, trawlers people Okay And I've got a couple more sub reports that are kind of breaking down even a little more. Again from Al Jazeera, i think it's a different report if you want to hear those we'll be completely caught up we won't need to know another thing about Brexit ever. This means that the UK has voted to leave the European Union. Finally Brexit is done. Okay skip that one does that yeah you're playing Brexit AJ Report 1? Yeah play Report 2
3:02:05 But even with this deal, UK businesses still have plenty to worry about. Only a small number of transport companies have had access to Britain's new border-crossing software expected to be rolled out just a week before the transition period ends There are concerns about Britain's current jobs crisis deepening if firms relocate to the EU And there are still unanswered questions about how to avoid physical border checks between Northern Ireland, part of the UK and Ireland an EU member. For now both sides will be happy to have something to show for the tortuous negotiations Boris Johnson insists their relationship is still close This country wil remain culturally emotionally historically strategically geologically attached
3:02:55 to Europe. But in the year of COVID, the UK has finally done what the 2016 referendum result demanded it's distanced itself from Europe. Glory challenge out of zero. So Bloomberg did have a couple of points about this automotive They still have kind of to figure out what's going on. Voxhall, which is owned by France's PSA group has been holding out for more clarity on Brexit before deciding whether to further invest in the UK or if they're going to move somewhere else and Nissan Motor Company decided against producing an electric model in Northern England so they lost that Then we have let's see
3:03:41 Parts may hear the key requirements of for rules of origin which determine what percentage of the value of a car's components Need to be sourced locally to qualify for tariff free trade Now we do this in America, too. You know you buy a car you can buy German cars It's gonna be some American bits in there might just be some chewing gum and inspector put in there But that helps with the tariffs parts made in the UK as well as the EU count as local content Interesting. So this doesn't even pertain to the EU gasoline and diesel cars need to be made with at least 55% local content To avoid tariffs five percentage points more than what the automakers in the UK wanted electric vehicles and hybrids need 40 percent local content 10 percentage points more than what the UK is asked for
3:04:36 And they got some stuff on batteries, they've got some stuff on manufacturing. They've got some stuff on food origins... It's a real deal but I don't know if it's gonna get signed. Someone's this too much sounds like a classic EU bunch of bullcrap Yeah, the EU is the one that keeps pushing these little details Oh you're gonna have no Academy 45 versus gotta be 46% I mean this sort of it's all Karen indeed mm-hmm everything and does all out of Brussels miss the bureaucrats They're already talking about- I don't see how they're getting away from it. It sounds like this is the same bureaucrats and making these rules, and they still stuck with them. Wait! I agree! It's like okay we have Brexit but look at all this stuff were still gonna have to do
3:05:26 Both sides agreed to explore liberalization. So what kind of Brexit is that? Yeah, both sides agreed to explore a liberalisation of rules that limit the operations of airlines outside the territory where their ownership is based. This is interesting... Before this split UK shareholders counted towards EU ownership requirements but now they don't! This threatens the rights of airlines like EasyJet etc., to operate within the bloc so they've got all- I think they have a rope around Britain's neck man I think they just said, okay you're free pay no attention to the rope around your neck. We're just gonna... Yeah it's like letting your dog go outside by keeping a leash on. Just yank it from time to Boris heal! Boris heal!