The European Union is considering a new proposal on fishing rights from the United Kingdom as British prime minister Boris Johnson tries to secure an 11th-hour trade deal, Bloomberg reported on Monday.
Under the latest proposal, Britain is ready to let EU boats retain two thirds of their catch, the report said. Last week the United Kingdom was insisting the EU accept a 60 per cent cut, the report added.
The EU in recent days has offered a 25 per cent cut over a six-year transition – a proposal that France is deeply uncomfortable with and that has prompted outrage from the bloc’s fishing industry, according to a Financial Times report.
Earlier on Monday, French European affairs junior minister Clement Beaune said that major hurdles remain over fishing in the Brexit talks and Britain's proposals are so far unacceptable to France.
Red lines
The French government said earlier it was sticking to its “red lines” when it came to EU rights to fish in British waters.
Mr Johnson said on Monday there were still problems in the trade talks and that Britain would thrive without a deal.
Britain says they are stuck on two issues – the so-called level playing field and fishing – and has repeatedly said the EU has to budge or there will be no deal.
Failure to agree a deal on goods trade would send shockwaves through financial markets, hurt European economies, snarl borders and disrupt supply chains.
Unless Mr Johnson can strike a trade deal with the EU in the next 10 days, the UK will leave the bloc's informal membership on December 31st at 11pm without one.
