British and EU clashes over payments

British and EU clashes over payments

World October 12, 2017 12:42

- The Brexit conversations are partially crashed. That was reported by the British delegation on Thursday, with the British pound falling sharply against the euro and dollar.

British negotiator Michel Barnier spoke of a deadlock. In particular, the issue of British payments to the EU has died, he said, what he called 'disturbing' for thousands of projects in Europe and the United Kingdom. Premier May reportedly would be optimistic about the talks about payments.

The agreement is an important condition for further negotiations on countless details of the departure from the partnership. In March 2019 that departure should be around, but the doubts have recently increased sharply.

Nevertheless, a progression of talks between the British and Brussels on a number of other topics could be a decisive step around the end of this year, Barnier said in an explanatory statement to the press on Thursday.

The European Union weighs the terms of departure of the British from the partnership. This morning Rabobank reported that the Dutch economy is getting much harder because of a departure from Britain from the European Union than previously thought.

In the case of a hard brexit, a € 35 billion badmail threatens a trade deal with the British, the damage could amount to € 25 billion.

It would cause the economy to grow more than four percent by 2030.

For the press conference, the pound already dropped against the dollar and euro. Currency trader Laurens Maartens (NBWM): 'What you see at the pound is more of the same song: the lack of clarity about the details. It's not going well. The expectation is that the pound sterling will still get a bit of a blow, despite the fact that the interest rate will be raised because inflation has risen. '

The impasse would mean that the 27 EU countries will vote for a further debate on a trade deal with the British. For this they will meet next week.

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