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G8 leaders agree to negotiate 'the biggest bilateral trade deal in history'

Following negotiations today, EU and US leaders have agreed to hold more negotiations on a massive trade deal.

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THE LEADERS OF the European Union and the United States have agreed to begin negotiations on what British Prime Minister David Cameron has said could be the “biggest bilateral trade deal in history”.

Following discussions at Lough Erne in Co Fermanagh this afternoon, Taoiseach Enda Kenny was among those watching on as Cameron, US President Barack Obama, European Commission President Jose Manuel Barroso and European Council President Herman van Rompuy announced an agreement to begin negotiations on TTIP.

Negotiations on the Transtlantic Trade and Investment Partnership (TTIP) will begin in Washington next month with all four leaders emphasising that talks would be complex and not without difficulty.

Cameron said it would potentially be a “landmark deal” between the European Union and the United States that could add as much as £100 billion (€120 billion) to the EU economy, £80 billion (€100 billion) to the US economy and as much £85 billion to the rest of the world’s economy.

The Conservative Prime Minister said this could mean millions of more jobs for citizens on both sides of the Atlantic and cheaper prices in our shops.

“We’re talking about what could be the biggest bilateral trade deal in history,” Cameron told the world’s media at Lough Erne. He said this was a “once in a generation prize” that leaders were determined to seize.

G8 leaders and Enda Kenny discuss trade at a meeting in Lough Erne earlier today. Pic: Merrion Street Twitter.

'Not a smooth ride'

Also speaking this afternoon, President Obama said that negotiations would begin in Washington next month and thanked EU leaders including Taoiseach Enda Kenny who was part of negotiations this afternoon.

"We just had an excellent meeting," Obama said of talks held today.

Obama said the importance of a deal was underlined by the fact that together the EU and the US accounted for around half of the world's gross domestic product.

"America and Europe have done extraordinary things together before," he said adding that the TTIP would be a priority of his and his administration.

President Barroso said he hoped to make "rapid progress" on a deal that would bring "huge economic benefits" and would not have been conceivable as recently as two years ago.

"We will keep our eyes on the prize and we will succeed," the Portuguese politician said.

Barroso's European Council counterpart Van Rompuy said today was a "special moment" but acknowledged that the talks "would not be a smooth ride".

Infographic: This is how much the UK thinks an EU-US trade deal could be worth

Read: Everything you need to know about the G8, but were afraid to ask

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    Mute Paul
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    Apr 24th 2019, 12:18 PM

    Suggestion. If viable, the seized drugs could be cleaned and refined so it may be possible to use the end product in pharma

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    Mute Nigel Mcatamney
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    Apr 24th 2019, 2:04 PM

    @Paul: good idea, only there’s very little coke in irelands coke, and the way our authorities price Cannabis, we be buying back 4 fold from pharma…. But your progressive thinking is what’s needed as opposed to all the nay sayers.

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    Mute Todd Hebert
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    Apr 24th 2019, 2:23 PM

    More wasted Gardaí resources. :(
    Legalise, regulate, tax!

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    Mute Mick.
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    Apr 24th 2019, 3:08 PM

    @Todd Hebert: Ahh yes the legalise argument. Why not legalise Crystal Meth and Heroin too!!!
    Maybe we can give Fentanyl out like sherbet while we are at it!!! What could possibly go wrong?????

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    Mute Wez Moore
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    Apr 24th 2019, 3:27 PM

    @Mick.: Let’s take it one step at a time.. Although I appreciate your enthusiasm.

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    Mute Seamus Mac
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    Apr 24th 2019, 5:51 PM

    @Todd Hebert: i saw a guy last week beating the shxt out of his girlfriend outside their house. They were fighting over heroin. I intervened & called the guards. Drugs are a poison on our society. We need more regulation & stricter sentencing along with adequate rehabilitation resources.

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    Mute Tony Donoghue
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    Apr 24th 2019, 11:37 AM

    Grassed up?

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    Mute Niall Binéad
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    Apr 24th 2019, 11:46 AM

    @Tony Donoghue: welcome to the debate!

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    Mute Tony Donoghue
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    Apr 24th 2019, 12:05 PM

    @Niall Binéad: are u the master?

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    Mute Niall Binéad
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    Apr 24th 2019, 12:18 PM

    @Tony Donoghue: my welcoming you to the debate was sarcastic….. what does grassed up even mean? Are u the master? Wtf does that also mean? If you’re going to add your voice towards the content of the article…. great, if you’re just going to try start your own conversation….. great, I’m out!

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    Mute Karen Wellington
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    Apr 24th 2019, 12:26 PM

    @Niall Binéad: I believe it’s a pun; marijuana sometime being referred to colloquially as ‘grass’, which is also a verb meaning to inform the authorities of another’s (illicit) activities.

    This is a comments section, not a moderated debate.

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    Mute Tony Donoghue
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    Apr 24th 2019, 12:40 PM

    @Niall Binéad: I know we don’t want Trump & O’Sullivan out so early, hopefully he will win final frame decider!

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    Mute Fr Romeo sensini.
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    Apr 24th 2019, 12:41 PM

    @Karen Wellington: I’m impressed.

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    Mute Tony Donoghue
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    Apr 24th 2019, 3:31 PM

    @Niall Binéad: chill dude, you’ve become v uptight since all that cannabis was seized!

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    Mute McNulty Jimmy
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    Apr 24th 2019, 5:45 PM

    Bit of a stretch calling Ballyfermot west Dublin

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