Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I welcome Commissioner Moscovici and his colleagues to the meeting. I have two questions for him, one on Brexit and one on CCCTB. The Commissioner stated in Davos last week that the talks between the EU and the UK on a new trade deal could only commence after the UK has left the European Union. A major concern for Ireland is the risk of a cliff effect after the two-year period following the triggering of Article 50. If there is no interim or transitional trade deal on issues directly under the Commissioner's remit, including taxation, customs and so on, this could have serious damaging consequences for Ireland.

Can the Commissioner clarify his comments that the talks on a trade deal between the UK and the EU will only commence after the UK has left? How does it relate to a transitional deal that Mr. Barnier, the chief negotiator, has indicated is a possibility?