Negotiators from the UK and EU reached a draft Brexit deal in 11th-hour talks Thursday, although there are serious doubts that the agreement will be approved by U.K. lawmakers back in Westminster, CNBC reported.
UK and EU strike new Brexit deal in last-ditch talks
STEPANAKERT, OCTOBER 17, ARTSAKHPRESS: Sterling rose on news after the U.K. made concessions over the Irish border, an issue that had proven to be the biggest obstacle to a deal. The pound was 0.8% higher against the dollar, at $1.2929, reaching a five-month high.
“We have a great new Brexit deal,” UK Prime Minister Boris Johnson tweeted. He called on British lawmakers to back the deal when it’s put before Parliament on Saturday.
The “Withdrawal Agreement” will now be put before EU leaders at their summit on Thursday and Friday, and then U.K. lawmakers at the weekend. Negotiations had continued late into the night Tuesday and into Wednesday. The EU Parliament will also have to ratify the deal at an as yet unspecified date.