Today, traders closely eye the Brexit divorce talks official start. The UK and EU authorities met in Brussels to launch Brexit negotiation process. Can UK still stay in EU?
19 June, AtoZForex – Today is the big day – Britain finally starts the official talks with the EU about the Brexit process. Therefore, some officials have gathered in Brussels to commence the Brexit divorce talks that are expected to last quite some time.
Brexit divorce talks official start
Among the authorities, the key Brexit talks figures – Brexit Secretary David Davis and EU chief negotiator Michel Barnier. As Brexit talks start, Mr. Davis is hoping for “new, deep and special partnership” with the EU. Moreover, as he met EU key negotiator, Mr. Davis added:
“There is more that unites us than divides us.”
As Brexit divorce talks official start took place, he also highlighted that he hopes for “positive and constructive” negotiation process.
Mr. Barnier is a former French minister. He has been expressing impatience in the past in relation to the UK’s hesitance to commence talks. The EU Chief Negotiator noted that his priority is to clear up all the uncertainties that emerged following the Brexit vote. Mr. Barnier and Mr. Davis will be having a joint news conference in the evening.
As we witness the Brexit divorce talks official start, in just some three days, the anniversary of Brexit shocking vote will take place. Exactly on the 23rd of June, 2016, Britons voted to leave the EU bloc. The UK PM Theresa May’s strong will to be out of the EU by March 2019 is adding to the concerns about the talks.
Hard Brexit or Soft Brexit?
Additionally, as UK General election delivers hung parliament, Theresa May has turned to the alternative to form a government with Northern Ireland’s Democratic Unionists. However, things are not that simple for Mrs. May.
On Monday, two Tory prime ministers have demanded May to review her stance in relation to the Brexit process. David Cameron and John Major have expressed their willingness to urge May to cooperate with other political parties in relation to the formation of Brexit deal.
Theresa May has failed to win the mandate for hard Brexit, which implies leaving the EU single market altogether. Reportedly, earlier some of the EU countries have stated it is still possible for the UK to stay in the bloc. Consequently, markets are confused, what to expect: Hard Brexit or Soft Brexit?
What to expect from key Brexit negotiators?
The authorities on both sides acknowledge that nothing major can be achieved within the starting day of talks. Nevertheless, the upcoming Brussels summit on 22-23 June is expected to somewhat improve the overall Brexit negotiations atmosphere.
Besides the obstacles that May faces within her party, one of the key Brexit negotiators, David Davis, is supporting her Brexit stance. Mr. Davis is aiming for the clean break with the single market and customs union. Those, who bid for the soft Brexit are leaving the EU leaders confused over the May’s plan for “global Britan.”
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