|

Irish foreign minister is not seeing need for further compromise on back stop

Ahead of the next crucial Commons debate, Simon Coveney, the Irish foreign minister and deputy prime minister, insisted the backstop was “part of a balanced package that isn’t going to change” insisting it was only part of the withdrawal agreement because of the UK’s red lines.

Since May’s deal was rejected in the Commons by a majority of 230, some ministers claim to have picked up signs that other members of the EU may be inclined to compromise on this in order to avert a no-deal Brexit. The Guardian newspaper wrote, "Ministers have not formally backed any of the anti-backstop amendments, which are incompatible with the deal that May agreed with UK leaders, but if one were to pass by a majority, she would be able to present the EU with a firm idea of what changes might get her deal through parliament – something that as yet remains unclear to Brussels."

In an interview with BBC One’s The Andrew Marr Show, Coveney said he did not see the need for further compromise because “the backstop is already a compromise”. Although originally Northern Ireland-specific, it was made UK-wide at the request of May, he said.

“And the very need for the backstop in the first place was because of British red lines that they wanted to leave the customs union and single market,” he said.

“So the Irish position is, look, we have already agreed to a series of compromises here, and that has resulted in what is proposed in the withdrawal agreement. Ireland has the same position as the European Union now, when we say that the backstop, as part of the withdrawal agreement, is part of a balanced package that isn’t going to change.”

Author

Ross J Burland

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

More from Ross J Burland
Share:

Editor's Picks

GBP/USD weakens to two-week lows near 1.3520

GBP/USD trades on the back foot, returning to the low 1.3500s, or two-week troughs, on Tuesday. Cable’s bearish price action follows decent gains in the Greenback at the time when investors assess latest US data releases and the persistent uncertainty in the US-Iran crisis.

EUR/USD remains offered; breaks below 1.1600

EUR/USD now accelerates its daily correction, breaching below the key 1.1600 support level on Tuesday. The pair’s daily correction comes on the back of a decent bounce in the US Dollar despite disappointing US data releases and amid persistent geopolitical concerns.

Gold flirts with multi-week lows near $4,300

Gold accelerates its correction and recedes toward the key $4,300 mark per troy ounce on Tuesday. The yellow metal’s persistent decline comes in response to the solid performance of the US Dollar and a sharp move higher in US Treasury yields across the curve.

Bitcoin and Gold Outlook: Bitcoin broadly consolidates, Gold falls as US JOLTS Job Openings rise
Bitcoin (BTC) maintains sideways trading around the immediate $78,000 support on Tuesday. The Crypto King outlook shows signs of cooling after the recent rally above $81,000. However, its downside remains protected, with major moving averages providing support and steady capital inflows absorbing some selling pressure.
Global bond market sell off haunts markets

Global sovereign bonds are selling off as we start a new month. The UK is, unsurprisingly, taking the biggest hit. Two and 10-year yields rose by 10 basis points at one point on Tuesday, and are currently higher by 7 and 8bps respectively.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.