Luxembourg’s ForeignMin Asselborn: Miracle needed to solve Irish border problem


While speaking to German broadcaster SWR on Thursday, Luxembourg’s Foreign Minister Jean Asselborn that only a miracle could help the UK resolve the Irish border problem in a bid to a no-deal Brexit.

Key Quotes:

“Miracles should never be ruled out, but I’m skeptical we can simply pluck something out of the air that guarantees Ireland has no hard border and at the same time the EU has control over what enters its market.”

“I’m not convinced that we can for sure say today a no-deal Brexit is coming, but we must clearly outline the dangers of a no-deal Brexit and Boris Johnson should do so too.”

Despite Germany’s Chancellor Merkel’s a 30-day offer to the UK PM Johnson on Wednesday to find a solution to the Irish backstop problem, the French President Macron remains firm that the Brexit agreement is not renegotiable, keeping the sentiment around the Pound somewhat undermined.

The Cable attempts a fresh leg higher near 1.2150 amid mixed market sentiment, with Macron’s latest warning likely to keep the upside attempts limited. Macron warned Boris Johnson Brexit could turn the UK into vassal state of the US ahead of their meeting in Paris later today.

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