EU’s Sefcovic: Implementation of N. Ireland protocol will continue to require compromise from both sides

Dhwani Mehta FXStreet

“Implementation of N. Ireland protocol will continue to require compromise from both sides,” Maroš Šefčovič, Vice-President of the European Commission in charge of Interinstitutional Relations and Foresight, said in a speech on Implementation of Protocol on Northern Ireland at the Institute of International & European Affairs (IIEA).

Key quotes

“Implementation of N. Ireland protocol will continue to require compromise from both sides.”

“Spirit of compromise needs to be mutual, protocol only solution we have.”

“Focus must remain on finding solutions in areas of SPS, customs checks and medicines.”

“No renegotiation of Northern Ireland protocol.”

“A lot has been said by the UK politicians of triggering Article 16, this has not been helpful.”

“Clear there are no easy, quick solutions to complex N. Ireland problems, but believe we can find solutions.”

“We will finalise package of measures on N. Ireland protocol by the middle of next week.”

“Seeking resolution on Ireland by early 2022.”

GBP/USD remains below 1.3600

GBP/USD is little moved by the above comments, as it keeps its range play intact below 1.3600. The spot is currently trading at 1.3584, almost unchanged on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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