First EU response to article 50 takes tough line on transitional deal – The Guardian
The Guardian carries details of the leaked draft docs of an EU parliament resolution, as reported by Livesquawk.
Key Quotes:
"Leaked European parliament resolution puts three-year limit on transition arrangement and says no to free trade agreement in next two years”
“Britain will not be given a free trade deal by the EU in the next two years, and a transition arrangement to cushion the UK’s exit after 2019 can last no longer than three years, a European parliament resolution has vowed, in the first official response by the EU institutions to the triggering of article 50 by Theresa May.”
“A leaked copy of the resolution, on which the EU’s chief Brexit negotiator, Michel Barnier, has been a close conspirator, lays bare the tough path ahead for Britain as the historic process of withdrawing from the trade bloc begins.”
Full read here
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.
