EU leaders concluded in the summit to give a further “two to three weeks” for negotiations with UK on post Brexit relationship. But they also demand the UK to make the necessary moves to make an agreement possible”. The final communique also asked chief negotiator, Michel Barnier, to “continue negotiations in the coming weeks”, dropping the call for “intensification” of talks as included in an earlier draft.
“We’re available, we shall remain available until the last possible day,” Barnier said. “The negotiations aren’t over – we want to give these negotiations every chance to be successful. I shall say to David Frost we’re prepared to speed up negotiations in the next few days.”
UK’s chief negotiator, David Frost, tweeted: “Disappointed by the conclusions on UK/EU negotiations. Surprised EU is no longer committed to working ‘intensively’ to reach a future partnership as agreed with [the European commission president, Ursula von der Leyen] on 3 October…. Also surprised by suggestion that to get an agreement all future moves must come from UK. It’s an unusual approach to conducting a negotiation.”
Frost also tweeted: “Boris Johnson will set out UK reactions and approach tomorrow (Friday) in the light of his statement of 7 September.”
Fed Kashkari: Economy in grinding recovery without further fiscal stimulus
Minneapolis Fed President Neel Kashkari warned that without further stimulus, “we will end up having a much slower – what I would call a grinding – recovery”.
“If you can’t pay your bills, more quantitative easing is a poor substitute for extended unemployment insurance,” he added said. “Only Congress has the ability to get that direct fiscal aid to the small businesses and to the Americans who have lost their jobs and who are facing real hardship.”