UK publishes the letter from the EU on the backstop assurances
- Says EU is committed to speedy work on trade deal by December 2020 to avoid triggering Irish backstop
- Says that even if triggered, backstop would only be temporary and last until a better agreement is found
What a waste of time. So much back and forth and postponing the December vote to tomorrow only for the same exact lines to be repeated from the agreement in November. As mentioned earlier, don't expect the letter here to change anything ahead of tomorrow's vote since it is essentially just a "clarification" of the deal signed last year.
The pound is barely reacting to this and rightfully so. Cable sits at 1.2837 currently, hovering between 1.2820-30 levels in the past couple of hours. EUR/GBP sits near flat levels on the day still at 0.8927.
