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The U.K. and the European Union inched closer to an agreement on the terms of Brexit after a positive meeting between the British and Irish leaders identified a “pathway” to a potential deal.
U.K. Prime Minister Boris Johnson hosted Irish premier Leo Varadkar for high-stakes private talks over lunch in northwestern England.
Afterward they issued a joint statement saying they had made progress and had identified the potential for an agreement during the course of a “a detailed and constructive discussion.”
Both leaders “continue to believe that a deal is in everybody’s interest,” the statement said. “They agreed that they could see a pathway to a possible deal.”
The pound hit a session high after the statement was released, gaining 0.7% to $1.2288.
While the tone of the statement was positive, it also highlighted the difficulties the leaders faced. “Their discussion concentrated on the challenges of customs and consent,” the statement said.
“They agreed to reflect further on their discussions and that officials would continue to engage intensively on them,” it said. Following the discussions, Varadkar will consult with the EU’s Brexit taskforce. U.K. Brexit Secretary Stephen Barclay will meet the EU chief negotiator Michel Barnier on Friday morning.
To contact the reporters on this story: Tim Ross in London at [email protected];Robert Hutton in London at [email protected]
To contact the editors responsible for this story: Flavia Krause-Jackson at [email protected], Thomas Penny
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