Caspian Energy Journal Caspian European Club
Thursday, 18 October 2018 15:00

Theresa May signals willingness to extend transition period

Theresa May signals willingness to extend transition period

UK Prime Minister Theresa May has hinted that the UK could extend the Brexit transition period to allow more time for trade talks, but she dismayed leaders at a Wednesday crunch Brussels summit by failing to offer any new ideas to break the impasse over the Irish border, Caspian Energy News ( reports with reference to The Guardian.

 “We have shown we can do difficult deals together constructively. I remain confident of a good outcome. The last stage will need courage, trust and leadership on both sides,” she told her EU counterparts.

An extension of the Brexit transition period would likely mean the UK needed to make additional budget contributions to the EU on top of its £39bn divorce bill.

An EU source said that the leaders had decided over dinner that they would not call a special Brexit summit in November, as sufficient progress in the talks had not been made. The source said: “The EU27 leaders stand ready to convene a European council, if and when the union negotiator reports that decisive progress has been made. For now, EU27 is not planning to organise an extraordinary summit on Brexit in November.”

The EU has suggested that extra time to seal a comprehensive trade deal could offer some further reassurance that the backstop solution for avoiding a hard border on the island of Ireland would not be used.

More details:

Person in charge of the newsline: Olga Nagiyeva 

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