Sterling appears to be lifted by reports that German European affairs minister Michael Roth said Brexit deal is still possible by November. And he also warned that a no-deal Brexit would be the worst case scenario for all parties. However, Roth also emphasized that “we will not undo the single market or create special rules which could result in competitive disadvantages for our companies.” Also, he added that Germany fully support chief negotiator Michel Barnier. There is no softening on Germany’s stance indeed.
Separately, French President Emmanuel Macron’s office also said he expected the UK to put forward new proposals in October. And he preferred not to drag on. His office said that “It’s a way of raising pressure, … It’s not necessarily ‘take it or leave it’, it’s really to say there’s a lot of work to be done by November, we must do it, and not let this thing drag on.”
UK Prime Minister Theresa May’s spokesman said the cabinet is due to discuss Brexit negotiations today. And he emphasized “the cabinet gave its full support to the white paper (Chequers plan), and that continues to be the case.”
However, Jacob Rees-Mogg, chairman of the European Research Group of anti-EU lawmakers in May’s ruling Conservative party, said “the prime minister is a lady of singular wisdom and therefore is likely to recognize the reality that Chequers does not have much support either in this country or abroad.”
