UK has already 'agreed in principle' with EU to Norway-style transition - The Independent

Dhwani Mehta FXStreet

Belgian MEP Philippe Lambert, a key member of the European Parliament’s Brexit team said in an interview with The Independent late-Monday, the UK has already “agreed in principle” to a Norway-style Brexit transition period in which it accepts all EU rules with no power to shape them.

He told the UK daily that while Ms. May has set out a desire to achieve a transition or “implementation” period on “current terms”, exactly how it will work has not been decided.

Additional Quotes:

“During the transition period, the UK will be a member in all but name, but it will no longer sit at the two tables where decisions are made; parliament and council.”

“It has to be a Norwegian-style deal, it cannot be anything else and this has been agreed in principle.”

“I heard no one disputing this from the UK’s side.”

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.

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