BBC’s Laura Kuennsberg with news of another possible defining moment for Brexit this week

We’ve really shaken the Brexit tree today.

The Beeb’s Laura Kuenssberg is out with another Brexit story and this one could be another big Brexit item for the pound. She says that there’s a possibility that the UK and EU could sign what’s being called an “Agreed truth” document.

Theresa May is battling hard to get things done on the three main points that’s holding the negotiations from moving on to the second phase. The three key issues are the divorce bill (stick a pencil tick by that one), Citizens rights (stick a biro tick by that one), and the Irish border (stick “T.B.A” by that one). IF (and it’s still a big “IF”) May manages to nail down all the issues, this “Agreed truth” document could help seal the deal between Barnier and the EU members he has to report to. As Laura explains;

Both sides are discussing now whether the two key officials, Olly Robbins (the PM’s top Brexit adviser) on the UK side, and Sabine Weyand (Michel Barnier’s deputy) on the EU side can produce a joint paper, what’s been described to me as an “agreed truth”, before next Monday.

The idea is that the negotiating rivals can come together to formalise what has been agreed so far, to write it down in black and white so that the conclusions of phase one can be closed, signed off, and by implication, not unpicked at a later stage in the future dramas of the second bit of the deal-making.

In the possible scenario that everyone likes it (and I’m not suggesting this is in any way a dead cert) the paper may be published at the end of this week potentially.

The message from negotiators to the rest of the EU – this is where we agree that we have got to, up to you to agree whether, in political terms, that is progress enough.

And remember while the decision to move on or not lies officially with the European Council, the 27 political leaders, they will act on the basis of what’s recommended by their negotiating team.

So if the joint paper does emerge, it will be a big hint that moving on is nigh.

Obvously it’s not a cut and dried outcome as one unnamed EU source has said that this may be one of the options on the table. This is also just another step in moving the negotiations forward.

What it does affirm is that the political wheels are in full motion and things are seemingly happening at a very fast pace away from prying eyes. Once again, that raises the headline risk for the rest of the week and over the weekend, where announcements like this are better served when markets are closed so traders have time to take it all in.

I would recommend reading the full article here to get a better idea of what’s going on.

Ryan Littlestone

Pin It on Pinterest