Brexit: EU reportedly preparing a long extension option with conditions

Yohay Elam FXStreet

The German media outlet Die Welt is reporting that the EU 27 countries are preparing a plan for a long Brexit extension to the UK. The ideas may be presented as early as Tuesday in a meeting between German Chancellor Angela Merkel and UK PM Theresa May in Berlin. The leaders will meet at 11:00 GMT.

May is getting ready to offer the opposition Labour Party a new offer related to future relations with the EU. She is convening her ministers to finalize a written offer.

GBP/USD is trading around 1.3050, steady on the day and looking for significant developments.

The UK leaves the EU on April 12th at 22:00 GMT unless an extension is granted. Such a delay must be approved unanimously by all 27 other members

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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