www.varchev.com

EU said it could start formal Brexit negotiations after May 22

Rating:

12345
Loading...

The European Union will start Brexit substantive negotiations by May 22, according to an EU official, leaving the window less than 18 months the UK to reach a compromise for orderly withdrawal.

European Council President Donald Tusk, issued a draft with guidelines for Brexit talks on Friday, setting priorities for discussing the union, including:

  • The first phase of talks will be to settle the “disentanglement” of the U.K. from the EU; and give legal certainty to EU and British citizens and businesses
  • EU governments will determine when “sufficient progress” has been made to proceed to other issues
  • The second phase of talks will seek “overall understanding on the framework” for the future U.K.-EU relationship, but final agreement to come only after Britain becomes a “third country”
  • No separate bilateral talks between U.K. and individual EU nations will be allowed
  • Any transitional arrangements must be “clearly defined, limited in time, and subject to effective enforcement mechanisms”
  • The U.K. should cover all legal and budget commitments
  • The talks will aim to avoid a hard border between Ireland and Northern Ireland, and seek agreement on arrangements for U.K. base areas in Cyprus
  • The future trade deal must include “safeguards against unfair competitive advantages through, fiscal, social and environmental dumping”

The general guidelines will be discussed and then approved by EU leaders at a summit on 29 April. More specific directives will have to be made to the General Affairs Council and be approved on May 22. More detailed documents outlining directives on specific policy areas will also be issued to determine the scope of the negotiations, said the official.

Even as the bloc will focus its efforts on reaching a compromise, it must also prepare appropriate measures for the possibility of failing to reach an agreement on an orderly Brexit, the official said.

Source: Bloomberg


 Varchev Traders

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

chat with dealer
chat with dealer
Cookies policy