European Parliament sets Sunday deadline for Brexit deal

[BRUSSELS] The European Parliament set a Sunday deadline for negotiators to reach a post-Brexit trade deal as they battle over fishing rights, the final obstacle to an agreement.

The European Union's assembly will only be able to ratify an accord before the transition period expires on Dec 31 if one is reached by Sunday evening, its spokesman said in a text message on Thursday. In London, Cabinet Office Minister Michael Gove said parliament would be recalled from its Christmas vacation next week if needed to ratify any agreement.

The European Union's chief Brexit negotiator, Michel Barnier, said it will be "difficult but possible" to reach an agreement on Friday, according to AFP. Earlier, he said the talks had made good progress - but warned that "last stumbling blocks remain."

BLOOMBERG