Pound rises on Barnier’s Brexit comments ZlotoNews

British Prime Minister Theresa May is seen at NATO headquarters in Brussels

British Prime Minister Theresa May is seen at NATO headquarters in Brussels Credit Reuters

Baker said 80 or more lawmakers were prepared to vote against the plan. An informal summit in Salzburg this month between the EU's 27 remaining leaders is emerging as one of the most significant Brexit discussions since the bloc first set its strategy for talks.

The announcement triggered a jump in the British pound, hitting a five-week high against the United States dollar at $1.31, while rising 0.5 percent against the euro to €1.12.

"The treaty is clear, we have two years to reach an agreement before they leave... in March 2019".

"I think anyone who was involved in that referendum campaign - I think it was a bad campaign on both sides - they're bound by all sorts of promises that shouldn't have been made, they carry the baggage of a awful process".

On Monday, Barnier said he thought reaching an agreement on the terms of the UK's departure was "realistic" within the next six to eight weeks.

Steve Baker, a former junior Brexit minister who resigned over May's so-called Chequers proposals on Brexit, told the Press Association he was not advocating a change of leader but said May faced a massive problem at the September 30-Oct. Barring any further developments on trade, this Thursday's U.S. inflation and Friday's retail sales figures will be the key data points to look out for this week.

Barnier's comments also dragged the Euro upwards yesterday, given the degree to which a smoother Brexit would alleviate pressure on the Eurozone economy.

The UK is just 200 days away from leaving the European Union, but British politics is riven by disagreements over the country's future direction. This time, one subject dominated: how to get rid of May.

May's proposal for a post-Brexit free trade area with the European Union for goods, which would include accepting a "common rulebook" for those goods, have angered committed Brexiteers inside her party. Many ERG members want a more decisive break and oppose May's so-called Chequers blueprint for a soft Brexit.

Former Foreign Minister Boris Johnson, who quit his post in July over May's proposed divorce deal, said May should follow US President Donald Trump's lead and commit to rejecting new taxes in the wake of Brexit.

He told Newsnight: "If you listen carefully to what Michel Barnier said there was no movement, there was an expression of confidence that we can get an agreement on the withdrawal agreement where we are going to give them £39 billion".

"We are ambitious for markets beyond Europe, but at the moment Europe is the ball game", said James Withers, Chief Executive of Scotland Food & Drink.

Freeman, who previously headed up No 10′s policy unit, said he had not discussed his proposals with the PM but insisted that a leadership contest need not be "chaotic". He warned his Tory colleagues to avoid "any diversion or distraction" that would prevent the government from delivering on the 2016 referendum result.

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