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situation report

Nov 7, 2018 | 17:04 GMT

2 mins read

UK: May to Show Ministers a Draft of the Brexit Deal

What Happened: British Prime Minister Theresa May has invited several members of her Cabinet to read a draft of the withdrawal agreement between the European Union and the United Kingdom, Bloomberg reported Nov. 7. According to inside sources, this draft does not include a clause on the Irish backstop.

Why It Matters: The European Union and the United Kingdom could be close to reaching an agreement, which would avoid a no-deal Brexit and allow the implementation of a transitional period to let businesses and households adapt to the new trade relationship. However, reports suggest that the parties are still struggling to come up with a solution to keep the Irish border open.

Background: The European Union and the United Kingdom did not reach a withdrawal agreement during a European Council meeting in October. Brussels has said it will only call for a special Brexit summit in November if enough progress is made during negotiations. Failure to reach an agreement would lead to a no-deal Brexit in March 2019.

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