welcome to the business i want to johnsonville him good to have you with us and was starting with a look at the christmas breaks a deal as you remember fishing was the final sticking point of those talks it carries a lot of political wagering gaining control over u.k. waters was a big part of the leave campaign it's worth remembering that fishing is only a tiny part of the overall economy accounting for just around north point 12 percent of g.d.p. that's it unlike britain's financial services sector which at $126000000000.00 pounds accounts for 10 percent of g.d.p. but financial services is not part of the trade deal which means the city of london will lose access to the european markets come january the 1st now brussels wants to hinge market access on how far britain diverges from us standards british finance minister richie so not meanwhile tried to reassure the financial players in the city of london that a deal is on the cards this deal also provides reassurance because there's a stable regulatory cross your framework mentioned in the deal which i think will give people that reassura

welcome to do business i want to get johnsonville in the to have you with us well the british pound rallied against rival currencies this morning after britain and the e.u. agreed to yet again extend to breaks a trade talks to avoid a no deal breaks it come january 1st at the pound reaching $1.33 a trading and it also was gaining against the euro so the 2 sides pushed past their sunday deadline to announce the negotiators would go back to work regulations and fishing rights remain key issues both sides face new trade tariffs should a deal fall through. and if i'm counting correctly we're talking about 10 days to christmas 17 days to new year's eve we still haven't got a clue what the relationship between britain and the e.u. will look like well for more i'm joined by maria de americas is deputy director at bruegel a brussels based economic think tank good to have you with us so what do you think businesses especially businesses should prepare for. well i think 2 obvious things in assessed runnings say to you so there will be any queues ours the borders close that they're on the fence in jan

welcome to do business i want to johnsonville good to have you with us it will take months to be finalized and fully ratified but the new e.u. china deal which is expected to be signed today is certainly a landmark deal it will remove barriers to e.u. investments in china for a key sector but critics say it's rushed and it reduces europe's leverage on dealing with china. after 7 years of wrangling the e.u. is set to ink an investment agreement with beijing that it insists will guarantee a level playing field for european companies operating in china blocks top trading partner. the investment agreement a passion project of german chancellor angela merkel is framed as a victory of financial rallies politic over political concerns especially china's human rights record but critics say the deal is rushed and weakens the e.u.'s political power beijing recently imposed hefty tariffs on australian goods after camera made political criticisms despite the 2 countries having a free trade deal i think there's been a very clear lesson this year and i was really intrigued by china are economic concerns

but how to do that the business i want to johnsonville and good to have you with us and we're starting with an amazing rally on global markets from germany's dax to wall street and tokyo stocks are hitting record highs and also seemed jubilant thanks to a new economic stimulus package passed in the u.s. the breaks a deal of course and the 1st vaccinations against the coronavirus question is how long will the party last. crisis what crisis the german stock market in frankfurt is and record breaking mood at the end of 2020 the blue chip dax index has gained around 4 percent since the start of the year despite the pandemic but what's behind the optimism. you make that the markets expect that everyone will be vaccinated by the middle of next year. but critics see significant risks many businesses such as love to answer or travel company to eat are only staying afloat thanks to state subsidies if the government were to cut back at short time work allowance many companies could go broke that would lead to mass unemployment as well as bankruptcies for businesses and individuals according to t