Egyptian pound rebounds at June 16 close – CBE    China's urban unemployment rate falls in May '25    Egypt, IFC explore new investment avenues    Israel, Iran exchange airstrikes in unprecedented escalation, sparking fears of regional war    Rock Developments to launch new 17-feddan residential project in New Heliopolis    Madinet Masr, Waheej sign MoU to drive strategic expansion in Saudi Arabia    EHA, Konecta explore strategic partnership in digital transformation, smart healthcare    Egyptian ministers highlight youth role in shaping health policy at Senate simulation meeting    Egypt signs $1.6bn in energy deals with private sector, partners    Pakistani, Turkish leaders condemn Israeli strikes, call for UN action    Sisi launches new support initiative for families of war, terrorism victims    Egypt's President stresses need to halt military actions in call with Cypriot counterpart    Egypt's GAH, Spain's Konecta discuss digital health partnership    Environment Minister chairs closing session on Mediterranean Sea protection at UN Ocean Conference    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt slams Israeli strike on Iran, warns of regional chaos    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's EDA joins high-level Africa-Europe medicines regulatory talks    US Senate clears over $3b in arms sales to Qatar, UAE    Egypt discusses urgent population, development plan with WB    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Britain close to deal on Brexit bill with EU
Published in Amwal Al Ghad on 29 - 11 - 2017

Britain has offered to pay much of what the European Union was demanding to settle a Brexit "divorce bill", bringing the two sides close to agreement on a key obstacle to opening talks on a future free trade pact according to EU sources.
The offer, which British newspapers valued at around 50 billion euros, reflected the bulk of outstanding EU demands that include London paying a share of post-Brexit EU spending on commitments made before Britain leaves in March 2019 as well as funding of EU staff pensions for decades to come.
A British government official said they "do not recognize" this account of the talks going on ahead of a visit by Prime Minister Theresa May to Brussels this coming Monday.
EU officials close to the negotiations stressed that work was still continuing ahead of May's talks with European Commission President Jean-Claude Juncker and his chief Brexit negotiator Michel Barnier. But EU diplomats briefed on progress said the British offer was promising and that, on the financial settlement, the two sides were, as one said, "close to a deal".
Nonetheless, others cautioned that Britain had yet to make a fully committed offer and that essential agreement from the other 27 member states could not yet be taken for granted.
The EU set the condition of "significant progress" on three key elements of a withdrawal treaty before it would accede to London's request for negotiations on a free trade pact that could keep business flowing after Brexit in 16 months.
It set a deadline of Monday for that progress to be made if EU leaders were to give a green light at a summit on Dec. 14-15.
On the issue of the rights of EU citizens in Britain, EU negotiators are still pressing Britain to accept that European judges should have a final say on enforcing those rights.
IRISH PROBLEM
If the financial settlement, which many British businesses have argued May should make in order to avoid a disruptive "cliff edge" departure from the single market, is forthcoming, the thorniest outstanding issue is that of the Irish border.
"Ireland remains the most difficult issue," a senior EU diplomat said after Irish Prime Minister Leo Varadkar avoided a disruptive snap election when his deputy resigned on Tuesday at the insistence of the party propping up his minority government.
Britain has yet to satisfy EU – including Irish – demands that it clarify how it would avoid a "hard border" with customs posts on land between Northern Ireland and the EU. Many fear that would disturb the fragile peace in the British province.
On the Brexit bill, Juncker has estimated Britain would owe roughly 60 billion euros. EU officials say Brussels is willing to work with May to massage those figures in order to help her win backing from hardline Brexit supporters who have in the past insisted that Britain owes Brussels nothing.
Britain's Financial Times said London agreed to assume liabilities worth up to 100 billion euros, but said net payments over many decades could fall to less than half that amount.
The European Commission declined to comment. Britain's Brexit ministry said "intensive talks" were continuing and the two sides were trying to find a way to "build on recent momentum in the talks" to take them to the next stage.
Sterling GBP= rallied around 1 percent against the U.S. dollar as investors took the reports as a sign that the risk of Britain leaving the EU without a deal, which is widely seen as damaging to the economy, had diminished.
Source: Reuters


Clic here to read the story from its source.