The U.K. and the European Union struck a deal to unlock divorce negotiations, opening the way for talks on what businesses are keenest to nail down—the nature of the post-Brexit future.
The deal, made before dawn on Friday after rushed talks through the night, clears the path to the start of trade talks between the U.K. and its biggest commercial partner. The EU was quick to put down a marker of where it thinks those talks are headed, and it's far short of what May wants.
The agreements outlined on Friday, including a 45 billion-euro ($53 billion) divorce bill and vague promises on the sensitive issue of the Irish border, will come back onto the table if trade talks turn sour. EU officials were already warning that the second phase will be harder than the first, and time is running short before Brexit day in March 2019.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.