Ursula Von Der Leyen confirmed that a wide gap remains between the EU and UK after her call with Boris Johnson. Reuters
Ursula Von Der Leyen confirmed that a wide gap remains between the EU and UK after her call with Boris Johnson. Reuters
Ursula Von Der Leyen confirmed that a wide gap remains between the EU and UK after her call with Boris Johnson. Reuters
Ursula Von Der Leyen confirmed that a wide gap remains between the EU and UK after her call with Boris Johnson. Reuters

Europe

'Significant gaps' remain after Boris Johnson and Ursula von der Leyen crunch phone call

The EU and UK leaders have instructed their chief negotiators to 'work intensively' to bridge differences

The National

October 03, 2020

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British Prime Minister Boris Johnson and European Commission chief Ursula von der Leyen spoke on Saturday with Brexit trade talks in an increasingly perilous position.

A joint statement released after the call stressed "the importance of finding an agreement, if at all possible, as a strong basis for a strategic EU-UK relationship in future."

Both leaders concurred that progress had been made in recent weeks but said "that significant gaps remained, notably but not only in the areas of fisheries, the level playing field, and governance."

The chief negotiators, Michel Barnier for the EU and David Frost for the UK, were instructed to "work intensively" to resolve these differences.

The statement concluded by saying that both leaders had agreed "to speak on a regular basis on this issue."

Before the call, it had been speculated that the possibility of "tunnel" talks between the EU and UK would be raised. The speculation appears to have been misplaced, however.

If tunnel talks had been ratified, it would have granted the protagonists a period of time before the next EU summit on October 15 to conduct trade talks away from the scrutiny of the media.

Ms von der Leyen tweeted of the discussion:

Earlier on Saturday, Britain's Cabinet Office Minister Michael Gove said he was “optimistic” about the chances of sealing a post-Brexit trade agreement with the European Union, although he expects “there will be one or two ups and downs on the way”.

Mr Gove was speaking on the first day of the Conservative Party’s annual conference which is taking place online due to Covid-19 restrictions.

He said that trade talks had been a "tough process" and that a deal would be "hugely helpful" for all sectors of the UK economy which is reeling from a 19.8 per cent plunge in GDP in the second quarter of 2020. He emphasised that the UK had made "extensive preparations" for any outcome, however.

The cabinet office minister also commented on the tumultuous UK jobs market.

Following Finance Minister Rishi Sunak's confirmation in September that the government's furlough scheme will finish at the end of October, Mr Gove admitted that that it was inevitable there would be some "churn" in the labour market.

He also called for more government departments and agencies to move outside London to leverage skills in the regions, arguing that the rise in working from home would allow Whitehall “decision-makers” to be dispersed around the country.

Ibrahim's play list

Completed an electrical diploma at the Adnoc Technical Institute

Works as a public relations officer with Adnoc

Apart from the piano, he plays the accordion, oud and guitar

His favourite composer is Johann Sebastian Bach

Also enjoys listening to Mozart

Likes all genres of music including Arabic music and jazz

Enjoys rock groups Scorpions and Metallica 

Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil

Tips on buying property during a pandemic

Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.

While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.

While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar. 

Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.

Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.

Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities. 

Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong. 

Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.

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