UK Brexit minister Davis doing the media rounds this morning 15 Aug
- very hard to say how long transition will be but most likely 2 years
- benefit of customs union goes both ways
- EU would be harmed by having no customs agreement after Brexit
- UK not going to continue with net €10bln contribution pa as we have now
- ECJ will not be the arbiter of the interim customs deal
And therein lays the rub as the EU still insist it must be.
- we are having a long haggle over money as part of the talks
- there will not be a number on Brexit divorce bill by October
And why not exactly? If the next stage is dependent on divorce terms why are we not already closer to a figure?
- there will be constructive ambiguity at times during negotiations
So they play poker then get timed out ? Total shambles.
Meanwhile GBPUSD drifting down through 1.2950 with EURGBP holding 0.9050 and back up to 0.9065 as EURUSD finds support around 1.1720
Davis seeing funny side. Unfortunately.
