British and EU officials are not optimistic about the awaited Brexit deal as the prospect of negotiations are at an impasse. Britain is making several big concessions to secure a deal including the critical issue of the Irish border in Brussels.
By Bloomberg |
London: British and European Union officials are pessimistic about the chances of securing a Brexit deal as Boris Johnson’s Northern Irish allies resist plans drawn up in talks in Brussels.
The pound rallied on Tuesday on hopes of an imminent deal but slumped after the British official said the prospect of a deal was now low, and fell further on warnings from EU officials that negotiations are at an impasse.
The gloomy assessments came after the Democratic Unionist Party raised objections to Johnson’s proposals. DUP leader Arlene Foster spoke to the UK prime minister on Tuesday, and afterwards said: “Gaps remain and further work is required.”
According to EU officials, Britain has made several big concessions in recent days to secure a deal, including on the critical issue of the Irish border. Talks went on late Tuesday night and there appeared to be momentum toward a deal.
But EU officials say Johnson won’t give the green light to an accord unless he is sure the DUP will back it. If a deal isn’t sealed and approved by the British Parliament by Saturday, then Britain will once again be pitched into a constitutional crisis that could result in a chaotic no-deal exit.
