UK, small likelihood of agreement to withdraw before October EU Summit = JP Morgan

[London 18th Reuters]-JP Morgan said on May 18 that British Prime Minister Johnson is unlikely to reach an agreement on a draft withdrawal agreement before the European Union (EU) summit on October 17-18. .

In a customer note, "Our view is more negative than positive about the UK agreeing to amend the EU exit agreement by the EU summit in October."

“British bargaining tactics seem to force acceptance on the EU side by presenting details of the proposal at the end and using the threat of withdrawal without consent mercilessly,” he said.

So far, Johnson has sought to reach an agreement by the EU summit, but warned that he would leave on the end of October, even if no agreement was reached.

JP Morgan's Malcolm Barr said it was “complex” and “remaining time” to agree on an alternative “backstop” solution to the Irish border problem that is at issue in the withdrawal council proposal. Is too little. "