EU's Tusk: EU leaders ready to consider extended transition period positively

Eren Sengezer FXStreet

Below are key takeaways from the statement delivered by President Donald Tusk after the European Council meetings on 17 and 18 October 2018.

EU27 confirmed that we want to continue the talks in a positive spirit.
Leaders expressed their full trust in Michel Barnier, and asked our negotiator to continue efforts to achieve an agreement.
We should be clear that, as for now, not enough progress has been made.
The issue of the length of the transition period was not discussed among the EU27 leaders yesterday.
But let me recall that in her Florence speech in September 2017, Prime Minister May proposed a transition period of around 2 years.
The EU accepted this proposal unanimously.
Therefore, if the UK decided that an extension of the transition period would be helpful to reach a deal, I am sure that the leaders would be ready to consider it positively.

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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