David Davis says he could live with shorter Brexit transition period

David Davis, the Brexit secretary, has said he “could live with” a 21-month transition period as Britain leaves the EU. He made the concession, demanded by commission negotiators, with EU talks in Brussels a week away. Davis told BBC Newsnight: “I’m not bothered too much about the question of whether it is Christmas 2020 or Easter 2021.” He said that getting a deal at next week’s council was “more important to me than a few months either way”.


EU wants capital market plan in place before Brexit

The European Union stepped up efforts on Monday to create a more unified and cheaper capital market by next year when it faces the loss of Britain, the bloc’s biggest financial center. The EU’s executive European Commission set out its latest plans for a “capital markets union” (CMU), a project initially focused on reducing heavy reliance of company funding on bank loans, but now made more pressing by Brexit. “By the time Brexit happens, the preconditions for a true single market for capital need to be in place,” European Commission Vice President Valdis Dombrovskis told a news conference. It is critical that EU states and the European Parliament get all measures “past the finishing line” ahead of elections for the EU assembly next year, Dombrovksis said.


EU denies Britain a say in bloc's affairs while on its way out

The European Union on Monday denied Britain any vote on EU policy issues during its transition out of the bloc and warned London not to fall behind on outstanding divorce matters.  Britain is set to leave the EU in March 2019 and the remaining 27 member states have now prepared their joint stance on what they expect of London during a transition period until the end of 2020.


Sterling up in a quiet Monday trade

There were no major data releases from the UK today. The Pound has held its ground the past week of trading as it has attained values which continue to test a variety of technical highs. Retail Sales data from the U.K were weak before going into the weekend, but this didn’t create headwinds. The Pound is comfortably above the 1.38 juncture versus the U.S Dollar and may continue to attract buyers.


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