Brexit Newsletter: Pay – Bloomberg


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Britain agreed to pay the Brexit divorce account, clearing one of the biggest obstacles to an agreement.

According to a person familiar with the situation, negotiators have secured a general agreement, although it should still be made available to national leaders, report Ian Wishart and Nikos Chrysoloras from Brussels. Those leaders have the final word on whether the improved offer is enough to unlock the talks. The offer is expected to be formally presented by Prime Minister Theresa May on Monday when she meets with European Commission President Jean-Claude Juncker in Brussels.

The United Kingdom agreed to badume responsibilities of up to € 100 billion (£ 87 billion, $ 119 billion), although net payments could amount to less than half and extend for many years, reports Financial Times . European officials have said for a long time that any final figure will be camouflaged to help the UK government sell the unpopular agreement to voters.

A customer withdrawing euros from an ATM.

Photographer: Akos Stiller

Seventeen months after Britain voted to leave the EU, and with only 16 months to go until it leaves the bloc, the agreement on the bill helps clear the way for that the two parties begin to discuss the future. However, one more obstacle remains, and it is more complex: how to avoid a hard border on the island of Ireland after Brexit, at which point it will become the new land border of the United Kingdom with the EU.

May has until Monday to come up with a solution that will satisfy both Dublin and the DUP, the party of Northern Ireland that underpins his government in London. Only if it does, will EU leaders agree at a summit on December 14 that the talks can move forward into the future business relationship and the crucial two-year transitional arrangement that companies are crying out for.

Tuesday, the teams from the United Kingdom and the EU are discussing the possible drafting of a compromise on the border issue that will allow progress in the talks.

Brexit Latest

Killing the auto industry | The UK automotive industry body issued a clear warning, saying that the introduction of friction to trade with the EU could undo decades of work dedicated to perfecting world-clbad manufacturing. "Competitiveness is hard won, it can easily be lost," Tony Walker, president of the Society of Engine and Trader Manufacturers, told the annual lobby group dinner on Tuesday. "A hard Brexit would undermine everything we have collectively achieved."

Polish pitch | Polish leaders have been watching the thousands of jobs in finance that could leave London, waiting for banks to embrace their country for its long-sought young workforce, economic office space and fast-growing economy. Now Poland is adding a less welcoming element to the pitch: higher taxes for many of the people who could occupy jobs imported from the UK

Bloomberg calculations and data

Secret documents | The saga continues: Brexit secretary David Davis has been summoned by UK lawmakers who are fighting to publish a series of secret documents about the economic impact of Brexit. Davis tried to calm the situation by giving all lawmakers access to the 800-page document, which badesses how Britain's exit from the EU will affect 58 sectors of the economy. But the document has been drafted to a large extent, since the government argues that some of the information is commercially sensitive and can put the United Kingdom at a disadvantage in its negotiations. The legislators on both sides of the Commons were not impressed.

Job Position | The confusion over what the Labor Party wants from Brexit is not being clarified. Diane Abbott, the secretary of the secret house, wrote to inform voters that she would support a referendum on the final outcome of Brexit, a policy that has been discarded by her party, reports Guardian . Challenged in the comments, Abbott said his letter was "poorly written."

Risk to health | The EU and the UK should take concrete measures to minimize the risk of Brexit interruptions in their health systems, the European pharmaceutical industry said. Negotiators must ensure regulatory cooperation under way, according to the European Federation of Pharmaceutical Industries and Associations, whose members include Merck & Co., Pfizer Inc. and Bayer AG. "Currently, with the uncertainty of the negotiations as we have them, we are leaving patients scratching their heads, hoping that someone has a plan in place," said Virginia Acha, a member of the group's working group on Brexit. a hearing in the European Parliament.

In the markets | While the markets are badessing the negative impact of Brexit, they are not taking into account the collapse of the Brexit negotiations or the risk of a job victory in any new election, according to Scotiabank. The pound rose 0.5 percent on Tuesday after news of the agreement on the bill and rose 0.2 percent in early trading Wednesday to $ 1.3368.

And finally …

British tabloids: the most fearsome critics of all the concessions to Brussels – news largely ignored by the divorce law on Wednesday. Weddings triumph over divorce and Prince Harry's commitment to Meghan Markle continues to provide the Theresa May government with much-needed coverage. It was filed Brexiter Nigel Farage, writing in Telegraph and transmitting on LBC Radio, to complain about the "exhausted" May.


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