EU’s Michel Barnier and UK’s David Davis press confernece 19 March 2018

  • New draft treaty is a decisive step
  • We are not at the end of the road
  • Ireland remains an issue
  • We agreed on a large part of the Brexit treaty
  • Agreed on a large part of what will be a withdrawal deal
  • EU council will judge the state of negotiations on Friday
  • There’s a complete agreement on citizens rights and financial settlement
  • Expats can now be assured of Brexit terms
  • Transition ends Dec 31st 2020 (that’s less than what the UK wanted)
  • A workable and practical solution on Ireland is needed
  • Nothing is agreed until it is all agreed

Lots of news all hitting at once. GBP is still finding the news positive and has risen to 1.4068

UK’s Davis up now;

  • We’ve taken decisive steps
  • Businesses now have certainty after the transition deal
  • There will be no disruption of trade deals while in transition
  • Existing EU trade rules will apply during transition
  • New deals to be active after transition
  • UK’s voice will be heard during transition
  • If UK cannot agree with an EU decision, it can choose not to apply it
  • UK has agreed that there must be legal text on Ireland that is acceptable to both sides
  • We know what we need to do on Ireland
  • A good deal is closer than ever before
  • UK government remains steadfast on avoiding a hard border in Ireland
  • We want to start trade deal talks as soon as possible

More from Barnier;

  • UK will be leaving 750 trade deals when it leaves
  • Any agreements agreed during transition will be signed after the transition period

That’s your lot. GBPUSD sits at 1.4077.

Ryan Littlestone

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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