Brexit will still happen despite the UK becoming more aware of the “density of problems” during withdrawal negotiations, Jean-Claude Juncker has said. The European Commission president indicated he disagreed with the Maltese prime minister Joseph Muscat, who reportedly said last week he saw “hopeful signs” that “Brexit will not happen”.
Irish Prime Minister Leo Varadkar has called for unique solutions to preserve the relationship between the UK and the European Union after Brexit. On his first official visit to Northern Ireland, he raised the possibility of a bilateral UK-EU customs union, and described Brexit as the challenge of this generation.
Standard Chartered is set to spend about US$20m to turn its Frankfurt office into a European base due to Brexit. The bank plans to create a subsidiary at its German branch to maintain access to the European market after Britain withdraws from the European Union.
The governor of the Bank of England has warned that uncertainty over Brexit is already weighing on the economy. Mark Carney's comments came as the Bank voted to hold rates and cut growth forecasts. It edged this year's growth forecast down to 1.7% from its previous forecast of 1.9% made in May and also cut the forecast for 2018 from 1.7% to 1.6%.
Philip Hammond has been backed by former Tory leader Lord Hague amid ongoing Cabinet tensions about the approach to Brexit. The ex-foreign secretary said the Chancellor deserves credit for pushing for a transitional deal which preserves close ties to Brussels, giving time for a new trading relationship to be established and avoiding turning Brexit into a disaster.
By Mike Gapes (*) For the future security and stability of our country, our continent and the world this is the worst possible moment for the UK to be leaving the European Union. Unfortunately, we are planning to leave our European partners at a time when there is going to be less and less agreement amongst the most important countries about how to deal with current and emerging global problems.
Suggestions that freedom of movement will continue after the United Kingdom leaves the EU are wrong, Downing Street has said. Last Friday, Chancellor Philip Hammond warned full controls could take “some time”, prompting speculation free movement may continue in all but name after the UK leaves in March 2019.
The rift between senior ministers on how long to allow the free movement of people after Brexit shows all the signs of a Cabinet in a state of civil war, Vince Cable has said. The Liberal Democrat leader's remarks come after International Trade Secretary Liam Fox dismissed the idea that a consensus had been reached on the issue by the Prime Minister's top table.
Any transitional deal in the period after Brexit must end by June 2022, the time of the next general election, Philip Hammond has said. But the chancellor said there must be business as usual, life as normal for Britons as the UK left the EU.
Ireland is against the imposition of an economic border with Northern Ireland and the Irish government is not going to help Britain design one, Prime Minister Leo Varadkar said on Friday.