Pound sinks after DUP deals blow to Johnson’s Brexit deal hopes

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2019-10-17 07:04:29

What occurred in a single day

A abstract of developments…

Brexit talks continued on Wednesday night because the UK prime minister Boris Johnson sought to finalise an settlement with EU negotiators in Brussels.

In Brussels, each side managed to resolve their variations on plenty of key points associated to preparations on the Irish border after Brexit, together with customs guidelines and Northern Ireland’s contribution and authority over such preparations.

In a night briefing, Michel Barnier, the EU’s chief Brexit negotiator, advised diplomats from the 27 different EU member states that the 2 sides had made “substantial progress”. As Europe woke one key sticking level was how to stop fraud involving worth added tax.

On Thursday morning the DUP mentioned it couldn’t assist customs phrases in Boris Johnson’s deal however reaffirmed its dedication with the prime minister to get a “sensible agreement” finalised.

One EU diplomat mentioned there was “genuine enthusiasm” in Brussels for securing a deal however that the EU27 wished to make sure that the DUP was on board and that Mr Johnson may move any deal within the Commons.

Hilary Benn, the Labour MP behind laws geared toward stopping a no-deal Brexit on Halloween, mentioned MPs may use the Commons sitting on Saturday to attempt to connect a confirmatory referendum to any revised withdrawal settlement.

2019-10-17 06:55:12

Full textual content: Arlene Foster’s assertion on Brexit

2019-10-17 06:43:04

Sterling sinks as DUP fail to assist Johnson’s Brexit deal

The pound slipped on Thursday morning in response to objections from Northern Ireland’s Democratic Unionist Party to the most recent Brexit deal proposal following an evening of negotiations in Brussels.

Sterling fell zero.6 per cent versus the euro to 86.75 pence, and zero.6 per cent towards the US greenback to $1.2754 forward of the prime minister resuming talks with the EU later right this moment.

2019-10-17 06:38:20

DUP stalls Brexit talks over Northern Ireland

By Laura Hughes, the FT’s political correspondent

Boris Johnson’s hopes of securing a Brexit deal have been dealt a significant blow on Thursday after Northern Ireland’s Democratic Unionist occasion mentioned they may not assist the revised deal because it stands.

The prime minister wants the assist of the DUP to be assured of profitable a parliamentary vote on a brand new Brexit settlement.

In an announcement, the occasion’s chief Arlene Foster and deputy Nigel Dodds mentioned that “as things stand, we could not support what is being suggested on customs and consent issues and there is a lack of clarity on VAT”.

The DUP have insisted that any new deal has to be accredited by the Stormont meeting with cross-community assist — the thought enshrined within the Good Friday peace settlement that delicate points should be handed by each nationalist and unionist communities.

This would quantity to a veto for the DUP, one thing that Dublin — and subsequently the EU — is not going to settle for.

The occasion mentioned within the early hours on Thursday morning: “We will continue to work with the government to try and get a sensible deal that works for Northern Ireland and protects the economic and constitutional integrity of the United Kingdom.”

2019-10-17 06:35:30

An early begin…

It didn’t take lengthy for the Brexit festivities to kick off right this moment. The DUP has dealt Boris Johnson a severe blow by rejecting his revised deal because it stands. Pound merchants are displeased.

We’ll be overlaying all of the developments in actual time all through the day. Follow alongside proper right here and tell us what you assume within the feedback part.

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