UK and EU reach agreement on draft declaration over future ties

The European Union and the UK have arrived at a draft declaration on their bilateral ties after the divorce that would allow the signing of the declaration and the British withdrawal agreement by EU member states on Sunday, November 25.

Canadian-British news agency Reuters reports that the news of Thursday, November 22, made the value of the British pound to grow by close to 1 percent on relief among investors that 18 months of tense and tortuous negotiation were ensuring nothing much will change during a transition period due to last until the end of 2020.

EU officials said there was a solid consensus that remaining smaller differences should not hold up a final deal for Sunday, as the other 27 governments go through the new paperwork.

However, Spanish Prime Minister Pedro Sanchez stated on Twitter on Thursday night: «After my conversation with [British Prime Minister] Theresa May, our positions remain far away. My government will always defend the interests of Spain. If there are no changes, we will veto Brexit.»

The main question mark is whether Spain, seeing Brexit as an opportunity to swing the EU’s weight behind its 300-year campaign to reclaim Gibraltar from Britain, can be persuaded to remain patient.

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