EU prepared to offer a partnership with the UK – Danske Bank

Analysts at Danske Bank note that yesterday, EU chief negotiator Barnier said the EU is prepared to 'to offer a partnership with the UK such as has never been with any other third country'.

Key Quotes

“Barnier repeated his previous line, asking the UK to respect the EU's red lines, in the same way the EU respects the UK's red lines.”

“Unidentified sources suggested that the UK and EU would extend the deadline for a Brexit deal and avoid a 'hard' Brexit.”

“Our base case remains a 'decent Brexit', for a deal that maintains a close trading relationship between the UK and EU, although the UK leaves the single market.”

“One major event is the UK Conservative Party conference in late September-early October, as PM Theresa May is under pressure by hardcore Brexiteers.”