Hammond says interim Brexit deal possible

Interim arrangements for Britain's exit from the EU will be put in place if discussions are making good progress but "haven't quite got there" within two years, Chancellor of the Exchequer Philip Hammond said this morning.

He said Britain has reinvented itself before and will do again if the country faces the "catastrophe" of being closed off from EU markets.

Speaking at the World Economic Forum in Davos, he said that preferential migration arrangements "could" form part of the Brexit negotiations.

"That could be a subject for the negotiations," he said. "What we have said clearly is that we can't accept the principle of free movement."

Mr Hammond said quitting within two years was a "political necessity" and the broad principles can be agreed in the time scale if there is the political will in Brussels.

He said: "If we are making good progress but haven't quite got there we will simply agree that Britain will leave the European Union and we will agree some interim arrangements while we complete the discussion.

"But we think it can be done in two years if there is a political will on both sides to reach agreement on our exit and at least agreement on the broad principles of the end state that will exist between the UK and the European Union."
  [rte.ie]
20/1/17
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Related:

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• EU Brexit negotiator Barnier highlights risks to European financial stability

• Germany forms special Brexit committee led by Merkel

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