I have always said that no deal is better than a bad deal; British Prime Minister Theresa May

Against the euro, sterling was down 1% at 1.11.

MAY AFRICA

CRIMSON TAZVINZWA//Prime Minister Theresa May has said that “no deal is better than a bad deal” but that the “best outcome” was to leave with a deal.

Mrs May speaking inside Downing Street said: “I have always said that no deal is better than a bad deal.

“But I have also been clear that the best outcome is for the UK to leave the EU with a deal.

EU nationals should be subject to the same rules as migrants from the rest of the world after free movement ceases to apply in the UK, according to a Government-commissioned report.

“That is why following months of intensive work and detailed discussions, we proposed a third option for our future economic relationship based on the frictionless trade of goods.

“That is the best way to protect jobs here and in the EU and to avoid a hard border between Ireland and Northern Ireland, while respecting the referendum result and the integrity of the United Kingdom.”

‘Making a mockery’

She said: “I have always said that these negotiations would be tough, and they were always bound to be toughest in the final straight.

“While both sides want a deal, we have to face up to the fact that despite the progress we have made there are two big issues where we remain a long way apart.”

READ RELATED: The pound is on course for its biggest one-day fall in 2018 after Theresa May said Brexit negotiations with the EU have reached an ‘impasse’

Mrs May added that the EU had only given the UK two options, which included an option to stay within the European Economic Area.

The Prime Minister described this option as “making a mockery” of the EU referendum in June 2016.

‘I will not overturn the result of the referendum’

The Prime Minister concluded her statement by saying: “The EU should be clear, I will not overturn the result of the referendum, nor will I break up my country.

“We need serious engagement in resolving the two big issues in the negotiations and we stand ready.”

The pound plummeted following Mrs May’s speech, trading down 1.3% versus the US dollar at 1.31.

Against the euro, sterling was down 1% at 1.11.

 

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