Prime Minister Theresa May’s fractious Conservative government agreed on a deal that solves the key outstanding issue — how to ensure a frictionless border between the U.K.’s Northern Ireland and EU member Ireland after Brexit. The “backstop” plan involves keeping the U.K. in a customs union with the EU until a permanent trade treaty is worked out. Barnier declared there has been “decisive progress” toward a deal — the phrase that allows EU leaders to call a special summit to approve the deal. Business groups warn that most U.K. companies will implement Brexit contingency plans — cutting jobs, stockpiling goods, relocating production — if there isn’t clarity by then about the terms of Brexit. The U.K. will cease to be an EU member on March 29 — deal or no deal.

Source: National Post November 14, 2018 20:44 UTC