The Day at a Glance | December 14 2020

The Top

· The United Kingdom and the EU agree to extend Brexit negotiations.

· Deputies give in to Banxico`s suggestions regarding the modification of the law on the purchase of dollars in cash.

· Economic indicators: Industrial production in Europe (-3.8% annual, Oct. vs -4.4% e.).

Economic environment

The United Kingdom and the European Union agreed to maintain negotiations to reach a trade agreement. Boris Johnson and Ursula von der Leyen affirmed that they will maintain their negotiation teams in conversations in order to reach an agreement before December 31st. Dialogue gained momentum over the weekend after the UK put forward a new proposal to guarantee fair competition between British and European businesses, which is one of the agreement`s main obstacles. The concessions, which are based on rules concerning subsidies and government aid to businesses, could lead to concessions on behalf of Europeans in another important issue that prevents reaching an agreement: Fishing rights in British waters. Negotiations have gone on for two years and must end in an agreement before December 31st, the official deadline established for Brexit.