Brexit Talks Under Threat - UK to Override Deal by Oct 15

Brexit trade talks have entered crisis today as Britain warned that it could override the divorce deal, unless the European Union agrees to a free trade deal by the 15th of October.

The UK is currently in process of new legislation that will cross out key parts of the Brexit Withdrawal Agreement - potentially threatening the treaty signed in January, and yet again giving rise to Ireland tension. According to Financial Times, the internal market bill is expected to "eliminate the legal force of parts of the withdrawal agreement" in areas of state aid and Northern Ireland customs.

Britain has set a deadline of October 15th to strike a free-trade deal with the European Union. "If we can't agree by then, then I do not see that there will be a free trade agreement between us, and we should both accept that and move on," Boris Johnson commented.  

The plan took both the Irish border and Brussels by surprise.

"If the UK chose not to respect its international obligations, it would undermine its international standing. Who would want to agree trade deals with a country that doesn't implement international treaties? It would be a desperate and ultimately self-defeating strategy”, an EU diplomat commented. 

Where will all this lead GBP? Let’s wait and see.

*The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).