Monday , September 24 2018

UK, EU plan special summit to ink Brexit deal

Bloomberg

The UK and the European Union are preparing for a special summit to sign the Brexit deal in November and the meeting could be announced within days, according to people familiar with the matter.
While negotiators still need to resolve key disagreements, the EU is getting ready to schedule a one-off gathering in mid-November so leaders can formally agree to the terms of the divorce, the people said.
Despite the more positive atmosphere surrounding the talks with the EU, UK Prime Minister Theresa May is facing a renewed threat from inside her own party.
Pro-Brexit Tories are said to have spent several hours plotting to oust her on Tuesday night because they think she’s betraying their vision of a clean break from the EU. People familiar with the matter said the meeting—attended by about 50 Tories—openly discussed how May could most easily be removed from office. But it broke up without a decision on a plan of action.

‘We Are Confident’
The pound pared early losses after European Commission President Jean-Claude Juncker said on Wednesday he would work “day and night” on reaching a deal with the UK. Investors focussed on the positive tone, even as he repeated his opposition to key parts of May’s post-Brexit plan.
May will present her case to her EU counterparts at an informal meeting in Salzburg next Wednesday, before the other 27 leaders discuss how to respond among themselves. The plan for a special Brexit deal summit is likely to be unveiled during the course of the Salzburg gathering, two people said, with one suggesting the announcement could come even sooner.
“We are working on a deal which will be good for UK industry and we are confident we’re going to achieve that,” a spokesman for May’s government said.
Scheduling a summit to conclude the withdrawal negotiations would be a sign of growing confidence among the governments of Europe that an agreement on the UK’s exit is close. The pound has risen in recent days on more positive news of the prospects for reaching a settlement, after falling during the summer over fears that the negotiations are at risk of breaking down.

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