“This week’s sterling bounce on reports that the UK has accepted a higher financial divorce settlement with the EU seems based on the false assumption that the way is now clear for the European Council on 14-15 December to authorise moving on to the next phase of the Brexit process,” said Christopher Granville, managing director at investment research firm TS Lombard. “To get to that next stage (the transitional deal), however, two further agreements are required. One – on citizens’ rights – looks relatively easy. The same cannot be said of the other – on the Irish border,” he added.
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