BRUSSELS (Reuters) - The European Union and Britain reached agreements on several fields the bloc has required to grant London a status-quo transition after Brexit, said Danuta Hubner, a bloc’s lawmaker who deals with the matter.
Hubner told Reuters that after “a weekend of intense negotiations ... we now have an agreement on the financial settlement, citizens rights and transition and large parts of the other separation issues.”
“What remains is mainly governance and Ireland, on which we have however received the assurance that (Britain’s withdrawal agreement from the bloc) will contain a backstop solution ... Needless to say, nothing is agreed until everything is agreed.”
Sterling surged on Monday as Britain and the European Union reached a broad agreement on a post-Brexit transition period, which is crucial for businesses.
Reporting by Gabriela Baczynska