Finance

Davis Sees `Regulatory Alignment' Post-Brexit for All of UK

Davis Sees `Regulatory Alignment' Post-Brexit for All of UK

British Prime Minister Theresa May's attempts to resolve the Irish border issue in the first stage of Brexit talks could leave her facing further demands from other parts of the United Kingdom, according to the London correspondents of major European papers.

The UK is hoping to start talks about a free trade agreement but the European Union says it will only recommend this can take place when it deems "sufficient progress" has been made on the other issues.

"The PM said intensive work had been taking place in recent weeks and the United Kingdom and European Commission were very close to getting agreement with only a small number of issues outstanding", the spokesman said.

British Foreign Secretary Boris Johnson says Brexit negotiations must not be held up by disputes over Irish borders and that the issue should be tackled in phase two of departure talks.

The unraveling of the U.K.'s divorce deal came about when the Democratic Unionist Party - which props up May's government - refused to sign off on a plan to keep Northern Ireland in "regulatory alignment" with the European Union in an effort to keep an open, "frictionless" border with Ireland.

Sierra Leone auctions off "peace diamond" for US$6.5 million
Before the year closes, Graff Diamond's chairman, Laurence Graff, has added another significant stone to its portfolio. Officials said they also hoped the sale will help combat the West African country's illicit diamond trade.

Johnson said Wednesday that "the best way to sort it out is to get onto the second phase of the negotiations, where all these hard issues can be properly teased out, thrashed out, and solved".

The EU has had "enough time now to decide whether or not they are going to discuss trade with us, they need to get on with it and if they don't get on with it the closer we get to walking away with no deal", she said.

With the clock ticking down to the March 2019 exit date, May is under pressure to start talks on its future trade ties by the end of the year to remove the cloud of uncertainty for companies that do business in the EU.

According to a agency report, deals were reached this weekend on the United Kingdom "divorce bill" and citizens' rights. But any solution will need the support of Northern Ireland's pro-Brexit Democratic Unionist Party, whose 10 members of parliament are propping up May's government. But it was later rejected by the DUP which says it cannot allow any divergence in regulation between Northern Ireland and other parts of the UK.

"Hopefully we'll find a way forward today", he said.


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