Millions of Brexit-weary Britons must be asking why after more than four years since deciding to leave the EU, their politicians have still not reached a trade agreement with the Union. Most Europeans have other worries relating to the EU’s sluggish economies and high unemployment.

The UK should be leaving the EU for good in a few days. As of today, discussions are still ongoing in Brussels between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen.

Political analysts say that there is still a 50/50 chance of an agreement. Three issues relating to fisheries, subsidies and governance seem to be prolonging the Brexit agreement saga.  

A no-deal Brexit never seemed as probable as in the last few days. No political leader would be happy with seeing their country leap in the dark by leaving the EU without an assurance that trade with the bloc would continue to flow. Trade in goods and services between the UK and the EU should ensure that the livelihood of ordinary European people would not be too adversely affected after Brexit.

The Eurosceptic narrative in Europe is that the Brussels bureaucrats want to suppress the sovereignty not just of Britain that has democratically decided to leave the EU but also of Poland and Hungary.

These latter countries resent the interference of the Commission in the management of their rule of law system.

The Europhiles know, however, that the EU is facing severe existential challenges. These challenges can no longer be ignored by kicking the can down the road hoping, as so often happened in the past, that the problems will eventually solve themselves.

The level-playing-field principle is of cardinal importance for European businesses that are bound by strict state aid rules. The UK wants to have the right to help British enterprises in whichever way they can to enable them to export their goods and services to the EU.

So often in the past four years, political analysts have repeated the mantra that “a bad deal is better than no deal”. Some are now challenging this logic. EU politicians, especially French President Emmanuel Macron, know that they will face endless flak in their country from Eurosceptic opponents if they are seen not to defend the national interest. This is why fishing rights have been given much more importance than one would expect.

The defence of European values is another issue that EU leaders are trying to address with more determination than ever before. The use of the veto rights by Poland and Hungary shows how important it is for the EU to restructure its governance if it is to survive as a credible union of nations and not just a trading block. Europe à la carte is no longer a viable option.

In the next few hours, we should know whether Britain’s divorce from the EU will be acrimonious or friendly. For too long, theatrics ‒ mainly aimed at domestic audiences ‒ have dominated the political stage in the UK and Europe. Hopefully, some deal will be finally concluded.

In the midst of the coronavirus pandemic that has shaken all European economies, the stark reality facing the UK and the EU countries is that in the long term a fudged deal will indeed be worse than a no-deal.