May Makes Offer to EU on Citizens Rights

Prime Minister Theresa May’s proposal to safeguard residency rights of European Union citizens currently living in the U.K. met a tepid reception both in Europe and at home, with EU counterparts and London Mayor Sadiq Khan stressing that many issues remain unresolved.

May told EU leaders over dinner at a summit in Brussels Thursday that almost all 3 million EU citizens in the U.K. will be able to continue living there after Brexit, saying she wanted to offer them as much certainty as possible about their futures.

Citizens’ rights is one of the main issues that the EU and U.K. need to resolve before trade talks can be broached leading up to Britain’s March 2019 exit from the bloc. Even though the prime minister emphasized that she didn’t want to break up families or deport anyone who currently lives in the U.K., EU leaders withheld judgment on the proposal, choosing to wait for the release of the full plan on Monday.

Bloomberg

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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.