EU to Publish Draft Brexit Treaty

The European Union will challenge Theresa May on Wednesday when it publishes a draft Brexit treaty that ignores some of the U.K. prime minister’s most important demands.The bloc is planning to set out in legal detail how it expects the U.K. to depart in just over one year’s time, and the terms of a transition period that will follow, according a person familiar with the matter. A German official added that the 27 members oppose an extension of the transitional period.Talks on the transitional phase that businesses want to help smooth the U.K.’s withdrawal are continuing but the EU’s 100-page draft agreement is likely to exclude May’s proposals for how that phase should work, the person said.

Source: EU Stokes Brexit Tensions With 100-Page Draft Exit Deal – 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.