Over the weekend the EU agreed to the Brexit draft deal after years of haggling. Now for the difficult bit.
Two hurdles to watch (and run headlong onto) are:
- The UK parliament vote, this is going to be a huge mountain for May
- A trade deal with the EU is yet to be sorted.
On the second point, Macron outlined the very firm French position on Sunday:
- "We as 27 have a clear position on fair competition, on fish, on the subject of the EU's regulatory autonomy, and that forms part of our lines for the future relationship talks
- It is a lever, because it is in our mutual interest to have this future relationship. I can't imagine that the desire of Theresa May or her supporters is to remain for the long term in a customs union, but to define a proper future relationship which resolves this problem
- We will concentrate our efforts in order to obtain access to the British waters before the end of the transition period. And of course all of our fishermen will be protected."
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For now GBP is a touch bid, circa 1.2830 (from late Friday 1.2815) in early trade. There is much work ahead still.
