EU's main Brexit negotiator Barnier out with a statement 31 Aug
- unacceptable that UK will not pay EU beyond obligations in final pre-Brexit budget
- UK has said it is not obliged to cover post-Brexit obligations that EUhas with 3rd parties
- trust needs to be built to resolve citizens rights and finance issues
- this weeks talks showed commitment on both sides to reach accord
- I see a kind of nostalgia in some UK demands, wanting to keep singe market benefits after Brexit
- if needed EU is ready to accelerate process
- No progress on main topics made yet
Ah, but is the UK ready ?
This from UK Brexit minister Davis:
- some concrete progress made this week
- UK ready to settle EU bill in line with law but also in spirit of continued relationship
- UK approach substantially more flexible and pragmatic than EU to avoid Brexit disruption
- both sides clearly aimed to be constructive this week, in interests of both sides
- EU has made a claim on a large amount of money
- UK has a different legal stance to the EU in terms of financial payments
- UK's approach is more pragmatic than the EU
Latest stage of Brexit talks on-going today and I get the feeling all is not good despite the brave faces. Both sides playing the blame game still.
Meanwhile GBPUSD posting new session lows of 1.2860 as EURGBP holds 0.9200 and EURUSD falls to 1.1844 new session lows.
All working well for the rally sellers but dip buyers poised too.
Barnier and Davis - A long way to go before becoming besties
