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The Brexit Deal Deadline is Likely To Be Cancelled

The U.K. and the European Union still state they want a Brexit deal wrapped up in the next seven weeks. However, behind the scenes senior officials on both sides admit this is unlikely, Bloomberg reported.

They now aim to finalize divorce terms by the middle of November at the latest, according to people familiar with the British and European positions, who spoke with Bllomberg on condition of anonymity as the discussions are private.

The longer timeframe is another indication that negotiators are struggling to make headway, and the risk is that the closer talks run to the U.K.’s exit on March 29, the greater the chance that there won’t be a deal. The EU summit beginning Oct. 18 had been earmarked as the deadline, after earlier hopes of resolving the divorce by June faded away.

If the deadline is pushed back again into December or January, both sides would face perilous choices over whether to give ground or give up on talks.

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