EU's Barnier not optimistic about Irish 'backstop' solution

BERLIN (Reuters) - There is no reason to be optimistic that Britain and the European Union will find a solution to the question of the Irish "backstop", the bloc's Brexit negotiator said on Tuesday.

"The question is: does the UK have an equally effective and operational alternative to our safety net? I see no particular reason today, to be honest, for optimism," Michel Barnier said in a speech at the Association of German Newspaper Publishers (BDZV) in Berlin.

The Irish "backstop", part of the Withdrawal Agreement that former Prime Minister Theresa May struck in November, is the key sticking point in efforts to agree an orderly British exit from the EU.

(Reporting by Joseph Nasr; Editing by Thomas Seythal)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Dollar hits new 40-year high versus yen, euro softer after ECB stands pat on rates
• Andy Burnham officially confirmed as new labour party leader, will become new UK PM on Monday
• Natural Gas Inventory 32 bcf vs 32 bcf Expected