European Union is all set to present the post-Brexit transition deal to Britain. Michel Barnier EU negotiator for the deal has told the press that EU stands determined as he extended a warm welcome to David Davis, British Brexit Secretary to the European Commission.
The Brussels diplomats who are leading the deal for 27 other EU members have told the media that EU has finally broken the ice after rounds of intensive discussions and a transition deal will now be offered to Britain. The transition deal comprises the rights of expatriate citizens, Irish concerns and also financial settlements. Simon Coveney, the Irish Foreign Minister has sought assurance from EU that London will abide by the December agreement and will not impose any hard border on the island nation. Britain, in turn, has stated two other outcomes for Ireland on the border issue both of which depend on the future EU-UK trade agreement.
Brussels is willing to offer an interim political deal which will allow Britain to be a part of most EU blocs and structures without the right to vote after March 2019 till 2020 end.
The hope for transition deal had the positive effect on the currencies and European markets with an apparent jump seen both in Sterling and Pound.