Negotiators from the European Union have called on the diplomats who are in charge of Brexit discussion for the bloc to an urgent meeting that was held last Monday, as speculation forms that an interim deal could likely be secured before a summit of European leaders that is scheduled later this week.
Sources of Reuters said that there could be a deal, even though another source was more cautious regarding whether the progress that was made in the negotiations had developed to the point of giving the United Kingdom the thumbs up on a transitional deal.
David Davis, the Brexit secretary, met with Michel Barnier, the chief negotiator of the European Union, in Brussels last Monday as they look to carve out an interim deal prior to the meeting of the leaders at a summit later this week.
Reuters has reported that various envoys will meet prior to the meeting of Davis with Barnier.
Negotiators from the United Kingdom hope to wrap up a deal as soon as possible, asking for a transition deal extending the membership of Britain of the customs union and Single Market, even though there are some concerns that a hardline Franco-German alliance with Ireland could affect the plans of Britain.
Businesses are enthusiastic for the confirmation to offer clarity on arrangements including how they will operate across Europe following Brexit, and to give more time to shore up contingency plans.
The Lord Mayor of London has said that he is “quietly confident” that the government will be able to reach a transitional Brexit deal in the next fortnight in order to be ready before the one-year marker for the withdrawal of the United Kingdom from the European Union.
Charles Bowman is the figurehead for the lobbying efforts of the City of London Corporation. He said that the government has suggested that it will try to reach a pragmatic deal regarding trade with the European Union, as he prepares to take a delegation of businesses from Britain to China to promote the City.
He said: “I would be quietly confident that we would get that transition by the end of March.”