(Source: Reuters)The European Parliament will on Wednesday lay down its “red lines” for negotiations over a Brexit deal, on which the assembly will have the final say in two years’ time. The parliament in Strasbourg, France, is set to back a call by EU leaders for Britain to first agree to divorce terms before striking any new trade deal with the bloc. The parliament will be the first EU institution to take an official stand on the Brexit talks. The guidelines, which Weber called “red lines”, reinforce the draft guidelines unveiled last Friday by EU President Donald Tusk, who represents the member states. Any transitional period to work out a trade deal after Britain formally leaves the European Union in March 2019 should be limited to three years.

Source: Indian Express April 05, 2017 04:18 UTC