EU-UK relations worsen amid hostile Brexit trade talks
Jerome Hughes
Press TV, Brussels
The EU's economy has never been in a more uncomfortable place due to uncertainty created by the coronavirus pandemic and also worsening relations over Brexit.
Trade talks between Brussels and London are floundering. British Prime Minister Boris Johnson claims a no trade deal scenario would still be a good outcome for his country and now the other side is also ramping up the rhetoric.
However, economists, employers and workers' unions insist the positive posturing by both sides will achieve nothing. Aside from Brexit, the cloud of economic uncertainty hanging over the fragile eurozone will not lift unless COVID-19 is brought under control, it has been claimed.
Eurozone finance ministers, known as the Euro group, have held a meeting to assess the 11.8% contraction that is badly impacting the 19-nation bloc.
The European Central Bank says the economic situation in the euro zone will not return to pre-COVID-19 status until the end of 2022 at the earliest. The bank says even that humble goal can only be achieved if a trade deal is reached between the EU and UK and further large-scale coronavirus lockdowns can be avoided.
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