European Union negotiator says Brexit deal is possible this week

Michel Barnier, the chief negotiator of the European Union for the Brexit deal with the United Kingdom, said on October 15 that an agreement might be difficult, however, it is “still possible this week”. This comes ahead of the meeting with the foreign ministers at the EU summit in Brussels that the main issue clouding the deal currently is the “complex issue” of Backstop concerning the island border which needs to be converted into something binding. Barnier also said that it was high time to “turn good intentions into a legal text”. The Brexit deal will be the main agenda to be discussed in the EU leaders' two-day meet as Prime Minister of UK, Boris Johnson believes that the divorce will happen on October 31 and Barnier also said on Friday that the leaders are “intensifying” the discussions. 

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Open, Global, Free trading UK

PM Boris Johnson believes that now is as soon as Britain leaves the 28 nation bloc which it joined in 1973, it will result in an “open, global, and free trading UK”. The economy will be high wage and low-tax which highest standards to the environmental standards. Advanced and new protections will be given for animal welfare and the UK will also become the “best place to invest and start a business”. PM Johnson further also says that without disrespecting other countries in the world, once the Brexit is done, UK will be the “greatest place to live and to be”. 

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Queen's Speech

The Queen addressed the Parliament yesterday and also raised the issue of the UK leaving the EU and says that her government will ensure to play a prominent role in global affairs while defending the interests as well as promoting its values. However, the Democrats are still clear that “no form of Brexit that will be good for Britain”. Jeremy Corbyn also said in the Parliament that “leaving the European Union is a tragedy” and that Britain has entered “very dark days”. Moreover, a no-deal Brexit could reportedly result in government borrowing rise to approximately £100 billion a year. The Institute for Fiscal Studies (IFS) claimed that the spending review shows that government borrowing was apparently on course to top £50 billion next year which is more than double what the office for Budget Responsibility was forecasting. 

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(With AP inputs)