Talks will go through the night as the U.K. and European Union seek a deal on the status of the Irish border so that Brexit talks can finally move on to crucial trade negotiations.
"We are making progress but not yet fully there. Talks are continuing through the night,” chief EU spokesman Margaritis Schinas said in a Twitter post.
EU Commission President Jean-Claude Juncker has spoken to Irish Prime Minister Leo Varadkar and U.K. Prime Minister Theresa May by phone. EU Council President Donald Tusk is due to speak to reporters at dawn in Brussels on Friday.
The U.K. isn’t confirming that a deal has been done, nor whether May will head to Brussels.
If a breakthrough on the sensitive issue of the Irish border is reached -- and the Northern Irish kingmakers in the DUP accept it -- then the three key divorce issues will have been settled, allowing talks to move on to the future relationship and the transition deal that businesses are desperate to get in place. The pound rose 0.5 percent.
British business wants a deal. The City of London, which represents a significant proportion of the economy, wants a deal. Therefore, despite sound arguments about the independence of Parliament and wish to have trade deals which are more positive for the UK, a deal remains likely as does a transition agreement which could be potentially lengthy.Back to top