Brexit Negotiations Stall: Not Enough Progress in Trade Talks

European Union leaders insist that the talks must make "sufficient progress" on Britain's financial settlement, the rights of citizens hit by the divorce and the status of the Ireland-Northern Ireland border before they can be broadened to include future relations and trade between Britain and the EU.

"By the end of October we will not have sufficient progress", he said.

But by focusing on defense in Tallinn, May will want to show that Britain has something to offer its European neighbors and will say she is ready to share British expertise - including through the National Cyber Security Centre (NCSC) - to help EU nations build up their own cyber-security capability.

Mr Davis pursued a more combative tone than his boss and his team didn't go far enough to clarify the concessions Mrs May offered in the speech, according to the person, who asked not to be named as the discussions were private.

Representatives of the remaining 27 member states are expected to decide whether to give the go-ahead for the next stage of negotiations when they descend on Brussels for the next meeting of the European Council on October 19.

Sterling ran a little bit higher; certainly the Barnier comments on "sufficient progress" is not enough to puncture the current sterling rally but still not strong enough to accelerate GBP gains in our opinion.

Guy Verhofstadt, the chief Brexit negotiator of the European Parliament, made a joke of Mrs May's precarious situation in London Thursday evening.

"The only way to reach sufficient progress is that all commitments undertaken at 28 [member states] are honored at 28", the former French government minister said.

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"It's positive that Theresa May's speech made it possible to unblock the situation to some extent and give a new dynamic", Mr Barnier said at a news conference Thursday, adding that "useful" talks were had on the contentious subject of the bill.

The Institute of Directors (IOD), a group which represents 30,000 senior business leaders, also called on the government to guarantee the rights of European Union citizens, and said on Thursday that both sides needed to display "further flexibility".

Davis agreed that things had changed.

European Union officials have previously said Britain's offer to European Union citizens falls short of guaranteeing the rights they have now.

Barnier highlighted two key areas of disagreement.

"After 15 months of human poker, the uncertainty facing 4 million European and United Kingdom citizens has become intolerable", they said.

The final reading of UK GDP for the second quarter is due at 09.30 but, more importantly, the latest consumer credit numbers that have been so in focus given the reliance on the UK consumer for the growth that we are seeing are also due.

Information for this article was contributed by Jill Lawless of The Associated Press.


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