EU's Šefčovič: Unrealistic to think that all EU-UK barriers can be lifted

Eren Sengezer FXStreet

Maroš Šefčovič, European Commission Vice President of Interinstitutional Relations and Foresight, said on Friday that the UK must show an unwavering commitment to implementing the Northern Ireland protocol, as reported by Reuters.

Additional takeaways

"The EU will not accept delicate balance being unilaterally changed."

"The EU has no interest in interfering in the UK's internal affairs."

"The EU is willing to find creative solutions when required."

"The EU does not be shy of acting resolutely if required over N. Ireland protocol."

"The clock is again well and truly ticking."

"It is unrealistic to think that all EU-UK barriers can be lifted."

Market reaction

The GBP/USD pair continues to push lower following these comments and was last seen losing 0.6% on the day at 1.3836.

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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