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The EU and the UK do not reach an agreement on Brexit due to significant divergences

United Kingdom and the European Union Brexit negotiations have suspended this Friday after failing to reach an agreement “on terms of conditions, governance and fisheries”, as explained by Michel Barnier, head of the European Union for the negotiations.

Both parties are separated by “significant divergences” and will inform their directors about the state of the negotiations. It is scheduled that tomorrow Saturday they will meet telematically the British Prime Minister, Boris Johsnon and the President of the European Commission, Ursula von der Leyen.

“After a week of intense negotiations, we have agreed today that the conditions for an agreement are not met due to significant divergences, “he explained in a joint statement.

The Bank of Spain has pronounced this Friday on Brexit and has launched a warning message to the United Kingdom. “Whatever the final mode of ‘Brexit’, its economic effects will be significant on the UK economy,” says the central bank.

In the case of the EU, the Bank of Spain warns that there will also be an adverse impact depending on the ‘Brexit’ modality, although of much less intensity, since in the worst scenario contemplated, four tenths of GDP would be subtracted from the horizon to 2022.

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