⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

British Brexit backstop plan welcome, with caveats - Irish foreign minister

Published 08/06/2018, 09:46
Updated 08/06/2018, 09:50
© Reuters. Ireland's Foreign Minister Simon Coveney speaks during a news conference in Dublin

DUBLIN (Reuters) - Irish Foreign Minister Simon Coveney on Friday welcomed a British plan for ensuring there are no customs checks along the Irish border when Britain leaves the European Union, but said it only told half the story.

The border between Northern Ireland and EU member state Ireland will be Britain's only land frontier with the EU after Brexit and both sides agreed they must lock in a backstop arrangement to keep that border open in case a future trade pact fails to do so.

Prime Minister Theresa May, who is struggling to contain divisions within her cabinet over Brexit, proposed on Thursday that she would keep Britain tied to the EU's customs union for up to extra year after an almost two-year transition period if there were any delay in implementing a divorce deal.

Coveney welcomed the "honesty" of the proposal but said there was more work to do to ensure Northern Ireland also abided by the rules of the EU's single market.

"Yes, this is half the story - there's recognition that more work needs to be done, but nevertheless it's a step forward on customs," Coveney told national broadcaster RTE.

"...The second issue will be the regulatory alignment and we'd like to make some progress by the end June. I don't think we need to have full progress on both or everything by the end of June," he said in reference to a summit of EU leaders

May's paper did not breach the Irish condition that the backstop cannot be time-limited, Coveney signalled, noting that the language on an end date was aspirational rather than definitive.

But a "big caveat" was that ultimately the proposals had to be acceptable to EU Brexit negotiators and must not create a backdoor to the EU's single market via Northern Ireland.

© Reuters. Ireland's Foreign Minister Simon Coveney speaks during a news conference in Dublin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.