European Union minister 'nervous' time running out for Brexit deal

Philip Davies

Britain's Prime Minister, Theresa May speaks at the Farnborough Airshow, in Farnborough, Britain July 16, 2018.

"We have of course looked carefully at the white paper, but we have also witnessed that there have been changes asked by the British parliament regarding the future relationship, so we need to know where the British negotiator is on the future relationship, she said".

With Brexit negotiations at an impasse largely because the British government is struggling to command a majority in parliament, there is growing concern that the country could end up crashing out of the European Union without a deal.

Sterling GBP=D3 rebounded from the day's lows against the dollar after the government sidestepped defeat on the amendment.

"The UK s withdrawal will undoubtedly cause disruption - for example in business supply chains - whether or not there is a deal", the commission added.

Mr Johnson used his resignation statement in the Commons to call for the PM to abandon her "miserable" version of Brexit, Mrs May's former joint chief of staff Nick Timothy said the current situation was "deeply depressing".

Britain's government wants future financial services trade with the European Union based on an "enhanced" version of the bloc's basic "equivalence" regime used by Japan, Switzerland and the United States.

The EU says that should there be no agreement in place, there will be no transition period and the United Kingdom will leave in a "no deal or cliff-edge scenario".

"We are quite happy that we have something we can work with, but it is not more than that, it is not the ten commandments, it is a negotiating paper put on the table", said the European Union official, adding that the European Union doesn't negotiate the white paper, but the exit deal.

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Banks, insurers and brokers must plan for a hard Brexit, which could throw 48 million insurance contracts and £26 trillion of derivatives deals into confusion, a regulator has said.

After her 90-minute grilling at the liaison committee May faced a meeting of her backbenchers, winning support from a lot of them. Here's some of the bookies' favourites to replace her as leader of the Conservative Party.

The EU are concerned May's proposals represent a fresh effort at "cherry picking" parts of the single market.

Loiseau said that in the light of the white paper, France was unclear whether May's government "gets it" on the EU's refusal to haggle over the indivisibility of the four freedoms of the single market - people, capital, goods and services. "We have changed tack once and we can change again", he said.

May faced open hostility from her own MPs, with one asking her in the House of Commons if she could explain "at what point it was decided that Brexit means remain?"

On two of those votes, her majority was cut to three.

But her plan has pleased few on either side, compounding the divisions within he Conservative Party that have so far frustrated progress in talks with the EU.

The government narrowly won three votes in parliament on trade and customs arrangements this week despite rebellions by pro-European members of her party.

"I can't remember anything quite like this".


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