A key Brexit breakthrough could happen next week

There are different options on the table to fix the border issue, however the EU’s negotiator Michel Barnier suggested Wednesday of which to avoid a physical border between both sides of the island, Northern Ireland will still be part of the EU’s single market (a region where goods, people as well as services move freely).

however This specific plan might raise problems for May at home. The unionist party in Northern Ireland, the Democratic Unionist Party (the DUP), who back May in Parliament as well as give her the necessary majority she needs to approve any Brexit deal, are against the idea of putting any sort of barrier of which divides Northern Ireland via the rest of the U.K.

“We expect the withdrawal agreement to be completed by November, however the risk of a ‘no deal’ will remain high owing to the possibility of which of which does not survive the ratification process,” Danielle Haralambous, a U.K. analyst at the Economist Intelligence Unit, told CNBC via email.

Once negotiators conclude the Withdrawal Agreement as well as EU leaders are happy with of which — which would certainly take place in mid-November — This specific deal needs to be approved by the European as well as U.K. Parliaments, the so-called ratification process.

“inside U.K. parliament, pro-Brexit members of the government are unhappy with the direction in which Mrs May will be taking Brexit, while Labour MPs (members of Parliament) have declared their intention to vote against the deal,” Haralambous noted.

“There will be a significant risk of which MPs on both sides of the Brexit divide vote against the withdrawal agreement as well as seek a general election,” she added.

Members of the DUP have threatened to vote against the government’s budget plan for next year, if the U.K. prime minister does not respect the DUP’s “red lines” inside Brexit process.

This specific could potentially bring down the government as of which would certainly signal of which the deal between the Conservatives as well as the DUP would certainly no longer be in place.

If negotiators are successful in finding a solution for the Irish issue next week, sterling could move higher. The currency has been volatile to the ongoing Brexit noise, having risen 0.5 percent to $1.32 against the dollar on Barnier’s remarks This specific week.

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