The EU and the UK are in the middle of a game of Brexit chicken - Reuters

Joshua Gibson FXStreet

As reported by Reuters, the European Union and Britain are continuing to face each other down across the bargaining table as real life continues to unfold around them, with a growing number of people begging for real-world solutions and answers.

Key highlights

On Monday Britain announced that it would not be able to agree to any deals with the EU unless they have a firm agreement in place regarding the future of trade talks, while the EU is equally unmoved, saying they cannot make any further progress on discussions until the UK moves first.

In the run-up to an October 17th-18th summit of European leaders, Prime Minister Theresa May is seeking firmer proposals from the European bloc regarding post-Brexit ties, while leaders in Brussels are choosing to sit and wait for a better solution from PM May regarding the Irish border contention.

One of PM May's spokemen reiterated today that, as far as the UK is concerned, Brussels has to make the next move.

"The 27 remaining members of the EU might delay work on fleshing out their proposal for strong trade ties after Brexit and will instead focus on their own preparations this week, including contingencies for a “no-deal” scenario - given the profound divisions within May’s camp over the terms of Brexit." - Reuters

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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