The EU agrees to further talks, but not to renegotiate the Brexit terms

The European Union will not allow May to reopen negotiations on the UK divorce deal with the EU, but will assist with the UK Government's desire for further consultations and talks on the deal, especially in seeking support.

EU leaders are ready to engage with the rhetoric needed to boost the impact of the negative effects that could have occurred if the deal failed.

May has said he will "do his best" to secure EU security in view of the unresolved issue of the Irish border and the lack of a more general trade deal.

But as long as the EU is preparing to publish a formal statement on barriers to the deal, it will not be legally binding, and the chances of complete modifications to the conditions are small.

The message they are going to make will not differ from what they said last month: "There is no other possible option." The EU will also most likely call for stepping up preparations in the event that the UK has to leave the Union without an agreement.

Mina Andreeva, European Commissioner, also backed Tusk's words earlier: "We will not negotiate. Our position in this case is unchanged."

Brexit is not currently on Thursday and Friday's agenda, but this is likely to change after May makes today's statement to Parliament by canceling tomorrow's vote for an indefinite period.

Source: Bloomberg Finance L.P.

Photo: Pixabay

Read more:

• Risk off after the escalation in the Middle East, markets are recovering in a period of calm
• The macroeconomic events for today’s trading calendar
• The US government has confirmed the attacks, Trump is calling an emergency staff meeting
• Has the war between Iran and the US started?
• US markets remain under pressure, traders await Iran’s response