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Free AccessMNI: No Brexit Talks On Fin Settlement, So No Moves This Week
By Tara Oakes
BRUSSELS (MNI) - With no negotiations scheduled for the financial
settlement during this week's Brexit talks, there is "no chance" of hitting the
sufficient progress mark this week for future relationship negotiations to
begin, Market News understands.
Sources on the UK side said that the agenda could always be modified even
at this late stage. But as it stands, there is not even the forum possible for
sufficient progress to be reached.
Instead, the so-called divorce bill will be discussed at a lower, technical
working group level.
"Sufficient progress" is the longed-for EU seal of approval needed for
talks on trade, customs and future partnership to begin. Britain are keen to
jump the gun and get second-phase negotiations up and running - and will publish
white papers this afternoon covering trade and customs.
EU Chief Negotiator Michel Barnier would recommend the sufficient progress
label before it is approved by leaders at the European Council -- who have a
summit coming up in Brussels next week.
But if things remain as they stand regarding the agenda and the general
gloom surrounding talks, negotiators are not there yet.
Sufficient progress is needed on the financial settlement as well as
citizens' rights and issues relating to the island of Ireland.
One EU source said that agreement on key citizens' rights issues was also
yet to be found. The role of the ECJ, exporting social security benefits,
registration and settled status are all still questions on the table. EU and UK
teams are working together on mapping the issues on the island of Ireland, he
added.
UK Prime Minister Theresa May is expected to say Monday that the ball is in
the EU's court to move on to the second stage.
But although EC Chief Spokesman Margaritas Schinas told journalists that
talks were "not exactly a ball game", he added that the ball, if it exists, is
"entirely" in the UK's talks for round II to begin - by them fulfilling the
mandate agreed and allowing sufficient progress to be declared.
--MNI Brussels Bureau; +44 203-865-3851; email: tara.oakes@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$B$$$,M$E$$$,MC$$$$,MI$$$$,MT$$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.