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Merkel Warns Financial Settlement Must Come Before Phase 2 of Brexit Talks

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German Chancellor Angela Merkel said on Friday that the European Union could only agree to enter the next phase of Brexit negotiations in December if Britain provided specific assurances about its readiness to settle financial obligations to the bloc.Speaking to reporters at the end of a two-day EU summit in Brussels, Merkel said it was “very clear” what British Prime Minister Theresa May had to do to break a deadlock in the talks that has prevented a discussion about Britain’s post-Brexit relationship with the bloc, known as “phase two”.“We hope that by December we have moved along enough to allow phase two to begin but that depends on the extent to which Great Britain makes progress so that we can say that it is sufficient on the core themes of phase one,” Merkel told a news conference at the end of an EU summit.

Source: Merkel says Britain must move on Brexit bill to break deadlock – Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

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