Brexit: Reports EU and UK close to trade deal

Britain's chief negotiator David Frost arrives at the UK Mission to the EU in Brussels. Picture: AP Photo/Virginia Mayo

There is ongoing speculation that the EU and UK are close to a Brexit trade deal ahead of the December 31 deadline.

Earlier this evening, some reports suggested a deal had been done but an EU Commission source told Reuters news agency that the talks are still underway.

Fishing rights and competition rules are the two main sticking points but concessions have been reported on both sides over the last 48 hours.

This afternoon, a Downing Street source said it was “possible but far from certain” that a post-Brexit trade deal could be agreed with Brussels today.

Speaking this morning, Micheál Martin raised the prospect of officials working on the text of a Brexit deal on Christmas Day if a breakthrough comes before then.

The Taoiseach said he and other EU leaders were on stand-by to endorse any agreement that might emerge from negotiations between Brussels and the UK Government.

“On balance, I think, given the progress that has been made, that there should be a deal,” he told RTÉ Radio One.

“And I think that a no deal would be an appalling shock to the economic system on top of Covid-19, which has really hit the respective of economies of the UK, Ireland and the EU member states.

“In particular, our domestic economy has taken a very big hit. And so we do need a deal.

“It’s all down to fish, it would appear right now.”

Additional reporting by Press Association