Former Eurogroup Head Says Brexit Negotiations Close to No-Deal

Brexit is a cause for concern as negotiations seem close to a no-deal, the former head of the Eurogroup told CNBC on Thursday.

The U.K.’s exit from the European Union, scheduled to occur in March, is at a critical moment as negotiators try to conclude talks before November.

But deep differences, on issues such as the Irish border, have raised doubts about whether an agreement will be reached.

“I am very worried about the outcome of the Brexit process. We seem to be heading towards a no-deal situation,” Jeroen Dijsselbloem, who led the group of 19 euro zone finance ministers for five years until January, said.

“Even if there is a deal… the worst the trade deal is, the more the impact will be on the financial services sector relations between the City (of London) and the EU,”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza