BREXIT Negotiator Says, “Deal Possible by November”

BREXIT Negotiator Says, “Deal Possible by November”

BREXIT Negotiator Says, “Deal Possible by November”

The European Union’s chief BREXIT negotiator says a divorce agreement with Britain by early November is “possible,” and that has triggered a big rally in the Great British Pound.

At a conference in the Alpine lake resort of Bled in northwestern Slovenia, Michel Barnier said a BREXIT deal was “not far” and that some 80% of the withdrawal agreement had been agreed.

However, he did acknowledge that tough issues remain not least the border between EU member Ireland and Northern Ireland. That’s been 1 of the thorniest issues in the BREXIT negotiations.

Mr. Barnier refused to comment on the divisions in the governing British Conservative Party over BREXIT: “This debate is very intense but I do not want to be involved.”

Britain is due to leave the EU on 29 March 2019, an agreement will have to be reached months before hand in order to get the necessary ratifications though such places as the British Parliament and the European Parliament.

The Great British Pound firmed on Mr. Barnier’s comments, trading 0.9% higher at $1.3030 Vs the USD.

GBP/USD: +0.91% to 1.3033: the Great British Pound jumped amid press reports that a BREXIT deal could possibly be struck within the next 8 weeks

Both sides in the Brexit negotiations say they are determined to reach a deal this Fall.

On 17-18 October EU Council Summit is being seen as a deadline for an agreement in order for the UK and European Parliaments to have enough time to ratify it.

“I’m determined. I said this from the word go – we’re going to find an agreement for an orderly withdrawal, which will be much better than a disorderly withdrawal,” the EU’s chief BREXIT negotiator Michel Barnier told reporters after talks in Brussels on Friday.

“Dominic and I think it’s possible to reach that agreement in October. It’s not a lot of time, but no one is talking about a few days here or there, but that’s our objective.”

His optimism was reciprocated by the UK government’s BREXIT Secretary, Dominic Raab: “We’re committed to the October Council – there’s maybe some flexibility but we’re committed to resolving the deal by then. And ultimately on my side, I am stubbornly optimistic that a deal is within our reach if both sides grasp the opportunity.”

If they’re wrong and no deal is reached by October, then there is talk of an emergency EU Summit in November. The UK is due to leave the EU on the 29 March 29 next year.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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