Brussels’ Brexit Plan: Treat The UK Like Norway

• 04.15.2017, 18:33
•  Europe,  World

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Brussels is contemplating another way to keep U.K. trade going with the EU after Brexit that would also keep Britain under the EU umbrella — go the way of Norway, The Politico reports.

The European Commission’s Brexit negotiator Michel Barnier’s team already floated the idea of a zero-tariff interim deal that preserves trade in goods, like German cars or French wine exports to the U.K, but would exclude trade in services and hit the U.K. hard on banking or aviation.

Joining EFTA, which governs free trade between Norway, Iceland, Liechtenstein and Switzerland, would allow the U.K. to apply for membership in the European Economic Area (EEA). That grants free access to the EU’s single market. The option — often dubbed the “Norway model” — would preserve current trade ties with the EU and spare the U.K. from negative economic consequences until future trade relations with the EU are sorted out, the official said. It would also retain ties in the area of services.