Westminster has reached an agreement with Brussels, in principle, on its so-called Brexit 'divorce bill', according to the Daily Telegraph. The report saw Sterling rapidly cut its losses to trade 0.24% higher at 1.3351, which was up from an intraday low of 1.3220.
UK Prime Minister Theresa May has been given 10 days to offer further concessions on issues including the Brexit divorce bill and the complex matter of the Northern Irish border if she wants European Union leaders to agree to trade talks.
Despite UK prime minister Theresa May reportedly doubling her Brexit ‘divorce bill’ offer, European Union (EU) diplomats have already indicated they are still not satisfied and could demand more cash for talks to progress.
The UK has two weeks to clarify key issues or make concessions if progress is to be made in Brexit talks, the bloc's chief negotiator has said. Michel Barnier was speaking after meeting the Brexit secretary for talks on citizens' rights, the Irish border, and the UK's divorce bill.
The EU and Britain resumed Brexit talks on Monday with fresh clashes, dimming hopes that a speech by Prime Minister Theresa May could provide a breakthrough in unlocking stalled negotiations. The EU's chief negotiator Michel Barnier insisted that he would not discuss May's call for a two-year post-exit transition deal until there was progress on key issues, including Britain's divorce bill.
The EU's Brexit negotiator has said he sees the process as an opportunity to “teach the British people and others what leaving the EU means”. Michel Barnier said he would never resort to blackmail but saw it as his job to “educate” the UK about the price it would pay for leaving the EU “club”.
A row over the Brexit divorce bill has dominated the latest round of talks between the UK and the European Union, with both sides in the Brussels negotiations voicing their frustrations. Brexit Secretary David Davis said there had been a “tough” discussion over the fee Brussels wants the UK to pay to settle its obligations after British officials challenged the legal basis of the demand.
UK Prime Minister Theresa May did not raise the issue of Gibraltar’s sovereignty during her meeting with the king of Spain despite the two countries not seeing “eye to eye” on the issue, Downing Street said on Thursday. A Number 10 spokeswoman said the Gibraltar “didn’t come up” and insisted Spain is “well aware” of Britain’s position that the Rock’s future is not up for discussion.
European Union’s chief Brexit negotiator has slapped down Boris Johnson over his claim that Brussels could “go whistle” if it expected large sums from Britain as part of the withdrawal agreement.