UK's Frost: Some of EU’s unrealistic positions will have to change if we are to move forward

Eren Sengezer FXStreet

The next round of Brexit talks with the EU will start on Monday, June 29th, the UK's chief Brexit negotiator David Frost said on Thursday.

Key takeaways

"For the first time since March, Brexit negotiators will meet face to face in Brussels and then London."

"These meetings will be smaller and focused on seeing whether we can begin to make genuine and rapid progress towards an agreement."

"Tthis needs to be a real negotiation and some of the EU's unrealistic positions will have to change if we are to move forward."

"The UK's sovereignty, our laws, our courts or our fishing waters of course not up for discussion."

"Equally, we do not seek anything which would undermine the integrity of the EU’s single market."

"UK will not agree to ideas like the one currently circulating giving the EU a new right to retaliate with tariffs if we chose to make laws suiting our interests."

"We could not leave ourselves open to such unforeseeable economic risk."

Market reaction

The GBP/USD pair paid no mind to these comments and was last seen losing 0.05% on the day at 1.2412.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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