Published: Wed, December 06, 2017
Worldwide | By Gretchen Simon

No Brexit deal today - GBP/USD crashes to support

No Brexit deal today - GBP/USD crashes to support

The problem now, of course, is that Ireland and the EU27 cannot back down from the position they have now approved - that there can be no hardening of the border between Northern Ireland and the Republic, and that that must be assured by "continued regulatory alignment" between the north and the south of the island.

It had been expected an agreement could have been reached in principle but none has been reached by Monday afternoon. "We think sterling can outperform, but prefer gains versus the euro or yen", said ING currency strategist Chris Turner.

Denis Staunton, the London editor of the Irish Times, accuses Theresa May of "dithering" on the border issue, and warns that she could come under pressure from the DUP and Brexit supporters in her own party to "walk away from talks". Both sides have been working hard in good faith.

With political fires to extinguish on a near daily basis - in the form of an unruly Cabinet, a shaky alliance with the Democratic Unionist Party of Northern Ireland and, more recently, her de facto deputy accused of viewing porn on his parliamentary computer - pressure is intensifying on the Conservative party leader.

Regulatory alignment could mean both Ireland and Northern Ireland following the same rules governing trade, to ensure that goods can continue to move freely across a "soft" border with no checks.

The EU estimated at some 60 billion euros ($71 billion) what Britain should pay to cover outstanding obligations on leaving.

New Mexico national monuments to remain intact
Zinke said Tuesday he also supports cutting the size of Nevada's Gold Butte and Oregon's Cascade-Siskiyou monuments. There is now no timber harvesting on the monument lands other than for maintenance or to maintain scenic views.

However, Brexit Secretary David Davis spun the disaster, claiming "progress has been made".

Mrs Foster's intervention disrupted the choreography of events in Brussels, as the PM broke off from talks for urgent telephone discussions with the DUP leader.

President of the European Council Donald Tusk speaks during a press conference at Government buildings in Dublin, Ireland, December 1, 2017.

Speaking in Parliament on Tuesday, Brexit Secretary David Davis sought to reassure critics by saying that he wanted "regulatory alignment" between the European Union and the whole of the United Kingdom, not just Northern Ireland.

Meanwhile the leaders of devolved governments in Scotland, Wales and London added a further complication by announcing that if Northern Ireland was to be offered a special status after Brexit, other parts of the United Kingdom should be offered a similar opportunity.

Juncker told reporters that despite significant progress during May's visit to Brussels, two or three open issues remained and "it was not possible to reach a complete agreement".

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