Reuters with sight of the EU draft for next stage of negotiations 8 Dec
- transition period envisaged of around 2 years
- UK will remain part of customs union, single market during transition
- future trade deal can only be completed once UK has left EU
- EU ready to engage in prelim future trade talks now
- EU leaders to adopt additional guidelines on future relationship at one of their next meeting
UK education minister Gove:
- deal is a significant personal triumph for PM May
- full alignment means different institutions aim to achieve same goals
- it will be UK judges to decide when cases go to ECJ in interim period
- it seems clear we have a 2 year transition deal
- Brexit bill will end up being rather less than press speculation
Window dressing all round still but hey let's hope a good final deal can be struck.
Meanwhile GBPUSD still holding back above 1.3500 as EURGBP remains below 0.8700
UK's Gove - Brexit bill will be less than expected
