Brexit statement from the European Union

Its the Brexit withdrawal text

  • Says Britain and EU will access each other's markets based around principle of equivalence
  • says UK and EU want to establish "ambitious customs arrangements" in future relationship
  • says unique circumstances on the island of Ireland needs a unique solution
  • says EU and UK intend to replace backstop on Northern Ireland by subsequent agreement which establishes alternative arrangements to ensure no hard border
  • draft brexit agreement says United Kingdom commits to avoiding a hard border, including any physical infrastructure or related checks and controls in Northern Ireland
  • draft brexit agreement says United Kingdom commits to avoiding a hard border, including any physical infrastructure or related checks and controls in Northern Ireland
  • UK-EU political declaration on post brexit relations says it calls for level playing field
  • UK-EU political declaration on post brexit relations says calls for zero tariffs across all goods sectors
  • UK-EU political declaration on post brexit relations says level playing field should cover state aid, competition, employment and environment standards, and tax

More:

  • draft brexit agreement says nothing in this protocol prevents UK from ensuring unfetteredmarket access for goods moving from Northern Ireland to the rest of the United Kingdom
  • draft brexit agreement says backstop protocol is based on maintaining full alignment with rules of the union'sinternal market and the customs union
  • draft brexit agreement says the transition period may be extended by mutual consent
  • draft brexit agreement says UK, EU shall use their "best endeavours" to conclude, by Dec. 31, 2020, an agreement which supersedes backstop protocol in whole or in part

The details are better news for GBP - trade issues being worked though

Headlines via Reuters