EU mocked by Brexiteer for only now ‘waking up to reality of Brexit’

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Brexit Party chairman Richard Tice said that Brussels has just realised its reliance on the City of London. The former MEP tweeted: “EU waking up to reality they need UK financial markets more than we need them in… no surprise to Brexiteers.”

Mr Tice’s comments come as the EU is desperately trying to develop its capital markets.

European Commission executive vice-president Valdis Dombrovskis said on Thursday: “This is particularly important in light of Brexit, as Europe’s biggest financial centre is leaving the single market.”

The UK left the EU on January 31 and is in a transition period until the end of the year while the two sides attempt to strike a post-Brexit trade agreement.

But an urgent breakthrough is needed if the two sides are to reach a deal.

Negotiations led by Lord Frost and his EU counterpart Michel Barnier have been deadlocked for months.

Fishing and state aid have proved to be major stumbling blocks.

Downing Street warned earlier this week that time was running out to agree a deal.

The warning came as Mr Barnier was visiting London for informal discussions with Lord Frost on Wednesday.

The pair met ahead of another round of formal negotiations next week.

The Prime Minister’s official spokesman said: “We do still believe that it is possible to get a deal but we need to make progress because time is obviously running out.”

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Asked if there could be further rounds of formal talks in early October, the spokesman said: “Let’s see how the negotiations progress.

“There’s an EU council that’s due to take place in the middle of October.

“We do think that it’s possible to reach a deal and we are committed to working hard to secure that.”

An agreement needs to be reached by the end of next month in order to have it in place for January 1.

Boris Johnson sparked controversy earlier this month with the UK Internal Market Bill.

The legislation gives ministers the power to override parts of the withdrawal agreement relating to Northern Ireland.

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