France’s Hollande Urges UK to Deliver Brexit Soon but Offers May Some Time

French President Francois Hollande urged Prime Minister Theresa May on Thursday to quickly come up with a negotiating stance for Britain’s departure from the European Union but agreed she needed time to trigger the formal divorce.

A day after German Chancellor Angela Merkel also endorsed May’s call for some breathing space to prepare for formal talks to end Britain’s membership, May won acceptance from Hollande of her position not to trigger the formal exit procedure this year.

But the French leader, under pressure after a deadly Islamist attack in Nice and keen to dampen the popularity of Marine Le Pen’s far-right National Front, was clear Britain could not put off invoking Article 50 of the EU’s Lisbon Treaty for long.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.