EU's Sassoli: UK has not presented any workable alternatives

Eren Sengezer FXStreet

European Parliament President Sassoli on Thursday said that the UK has not presented any workable alternatives to the backstop. "Existing Withdrawal Agreement is the best possible solution for Brexit," Sassoli reiterated. "We cannot have a Brexit deal without the Irish Backstop, it couldn't be any clearer."

The GBP/USD pair ignored these comments and was last flat on the day at 1.2330. Below are some additional quotes, per Reuters.

"Do not forget that the EU parliament will have the last word on Brexit."

"We are willing to go back to the original EU proposal on the backstop."

"A no-deal Brexit would be entirely the responsibility of the UK."

"Signals we are getting do not indicate there is any UK initiative to reopen Brexit negotiations."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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