Very good, and what those of us who had worked with contracts largely thought - that the story was rather messier than the 'incompetent Commission brings EU to verge of collapse' suggested by those who always say 'incompetent Commission brings EU to verge of collapse'
https://twitter.com/davidallengreen/status/1354794491807465472
Classic EU Commission playbook - threaten those seen to be in some way in breach, in the hope of being able to deliver a better result. Often successful but quite possibly at a cost of both public reputation and business innovation.
As for the UK, its been said plenty of times that there are opportunities in regulatory nimbleness, though they are each marginal economically because it is about doing the same as the EU but quicker. But also, the vulnerability to the big neighbour is obvious.
The vulnerability to a larger market next door should be obvious but is comically denied by the hyper partisan (both ways). Realistically the UK will have to learn to dance around this, which is why our trade and foreign policy must start with the EU and neighbourhood.
Still amazing that we don't appear to have one strong relationship with an EU Member State, or any particular interest in having one. A problem that like refusing the EU full diplomatic status will come back to cost us.
NB public reporting about the awfulness of the EU is a given. But government pandering to that isn't actually going to improve our economy given that is our neighbourhood. We need to remember what we used to be good at, diplomacy.
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