UK PM May's Spokesman: PM has said on numerous occasions that we will not be extending Article 50

Haresh Menghani FXStreet

The UK PM Theresa May's spokesman, James Slack was out on the wires in the last hour, saying that Brexit negotiations are very much ongoing and expect intensive talks in the coming days.

Key quotes:

• PM will be taking the lead in the final days of these negotiations.
• No data set yet for a Brexit meaningful vote.
• Negotiators are adding detail to the outline political declaration before a final framework.
• Would expect to have some engagement with EU’s Juncker, but date yet to be set and depends on negotiations.
• The government believes does not need any extension to the implementation period.
• But clearly makes sense to have that option as an alternative to the backstop.
• The precise detail on an extension is something for negotiation.
• Important that implementation period ends in advance of next election.
• There is a linkage between withdrawal agreement and future relationship.
• If either side fails to honour the political declaration there could be a suspension of parts of withdrawal agreement, including payments.
• We have set out what our aim is for the future relationship and negotiating is the best way to do that.
• PM has said on numerous occasions that we will not be extending Article 50.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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