Brexit Talking Points:
- November ‘emergency EU meeting’ now seen as the first possible date for Brexit progress.
- Are talks gridlocked or is there now a workable plan that may produce a long-awaited deal?
- Traders must be aware of any shifts in the negotiating timetable.
Brexit – An Increasingly Bitter Divorce[1]
Brexit: Shifting the Timeline May be a Positive Move
The EU Summit on October 17-18 has long been seen as the last date for the European Union (EU) and the United Kingdom (UK) to agree to terms for the UK’s exit from the single market and for establish future trade agreements. The latest round of talks ended with both sides making positive noises, but no hard and fast deal was struck.
While EU negotiator Michel Barnier and his UK counterpart Dominic Raab have said that they would like an agreement by mid-October, both sides have talked about flexibility with an ‘emergency EU meeting’ in November being mooted. Both negotiators have agreed to hold continuous talks to break the current impasse, with the current timetable no longer a fixed issue. The original October date was set to allow both sides the time and flexibility to ratify the deal with their respective governments before the UK officially parts company with the EU on March 29, 2019. Setting the extreme, the December EU Summit meeting has always been seen as too close to the UK’s departure date to allow the EU and the UK to fully endorse any agreement.
Brexit: Deal or No Deal
This new November deadline may be viewed as either good or bad for future relationships between the two parties. Those who believe that the UK will leave the
