Brexit talks end with no progress France wants money back
The European Union and Britain offered few compromises at their first full round of Brexit talks which ended on Thursday, and the pound fell on worries that British ministers were prepared to walk away without a divorce deal.
While negotiators laid out their disagreements in Brussels, Prime Minister Theresa May met company bosses at home, with one employers’ group saying her government needed to engage in “sustained and structured” discussions with business over Brexit and avoid an abrupt departure from the bloc.
Academics warned of “widespread, damaging and pervasive” costs if Britain failed to reach at least a transitional trade deal with the EU before its scheduled departure from the bloc less than two years from now.
At the European Commission, the negotiators laid out their opening positions in four days of talks that confirmed some common ground.
But they also confirmed differences on how to protect the future of expatriate citizens, while uncertainty persisted over a financial settlement and the future of the intra-Irish border — which will become an external frontier for the EU in 2019. Chief EU negotiator Michel Barnier said there was “a fundamental divergence” on how to protect the rights of EU citizens living in Britain and of Britons in the remaining 27 EU countries after Brexit. He said European courts should guarantee citizens’ rights after Brexit.
“Any reference to European rights imply their oversight by the Court of Justice of the European Union,” he told a joint news conference with British Brexit Secretary David Davis. Davis said the meetings in Brussels had provided “a lot to be positive about”. REUTERS France insisted that the UK pay a Brexit bill of as much as ^100 billion ($115 billion), underlining the hurdles to substantial progress in negotiations toward a new relationship with the European Union. As the second round of talks wraps up in Brussels, French Finance Minister Bruno Le Maire used a hearing in the French parliament in Paris on Wednesday evening to take a hard line on what the EU believes the UK owes the bloc in terms of liabilities and obligations. BLOOMBERG