Merkel Comments Show Tough Task Facing UK

German Chancellor Angela Merkel’s comments about Britain having illusions over its future relationship with the European Union show how tough the upcoming Brexit negotiations will be, Prime Minister Theresa May will say on Thursday.

Earlier Merkel said some people in Britain still had illusions over the EU rights they would continue to enjoy after Brexit and insisted the bloc would only agree on future ties with London after an exit deal has been nailed down.

May will use a speech in the opposition Labour stronghold of Leeds in northern England on Thursday to urge voters to back her Conservative Party at an election on June 8 to give her “the strongest possible hand” in negotiations.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.