EU draws up tough stance on Brexit transition deal

FT/Alex Barker/03-31-17

EU leaders are preparing a tough opening stance in Brexit talks, explicitly stating that Britain must accept the bloc’s existing laws, court, and budget fees if it seeks a gradual transition out of the single market.

…Most worrying for London, the draft unambiguously spells out conditions for a transition phase, which would minimise disruption until a trade deal is complete. If the EU’s single market legal “acquis” — its body of common rights and obligations — is prolonged at all after Brexit, the guidelines say it requires “existing regulatory, budgetary, supervisory and enforcement instruments and structures to apply”.

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