May’s Brexit breakthrough

– Britain has agreed a draft Brexit deal with the European Union, Prime Minister Theresa May announced last night, although she must still get it through her cabinet and the deeply divided parliament.

The breakthrough after months of acrimonious negotiations came with fears mounting of a potentially catastrophic scenario, in which Britain leaves the bloc in March with no deal at all.

Yet numerous hurdles stand in the way of a final agreement, most of them in London, where members of May’s own cabinet and party are once again arguing over how to proceed.

Ministers were individually briefed about the deal’s outline yesterday evening, ahead of a special cabinet meeting today to sign off the text, Downing

London

Street said.

“Cabinet will meet at 2pm tomorrow to consider the draft agreement the negotiating teams have reached in Brussels, and to decide on next steps,” it said.

France’s European Minister Nathalie Loiseau confirmed that the sides had finally made “substantial” progress.

“We are going to look very carefully at the draft agreement. We want a good text that scrupulously respects the interests of the EU,” she wrote on Twitter.

The pound surged on the news, rising by 1 percent against the dollar and 0.5 percent against the euro compared to late Monday.

If British ministers back the text, London hopes the EU will call a summit later this month so the bloc’s leaders can give their approval. –