The European Union Chief Negotiator Michael Barnier said that Boris Johnson's alternative to the Irish Backstop is unacceptable for the European Union.
“The new government of the UK wants us to get rid of this solution, the so-called backstop and wants … a regulatory and customs land border on the island of Ireland," said Barnier.
Those comments came after Britain's prime minister claimed that he was feeling “cautiously optimistic” regarding convincing the European Leadership of accepting his alternative deal.
Barnier Declared that the British Government wants the European Union to change the way its market and border control operate after the Brexit, something that is unacceptable as the Union's main aim is "safeguarding peace, stability in Ireland and protecting the integrity of the single market."
The question now is if there's going to be any feasible solution that would be acceptable for both parts. For Barnier, this depends on the British Government.
“The ball is in the court of the British,” said Barnier, though according to him the talks were on a “very difficult sensitive phase”.
For Barnier, the main question now is if the UK would provide an effective alternative to the EU's proposal, though according to him there is no reason to be the optimist.
“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,” said Barnier.
It’s still not clear whether the United Kingdom will leave the UE with or without a deal. Boris Johnson keeps insisting on leaving the union by October 31 unless he reaches an “acceptable deal” for him and his party regarding the Irish Backstop Issue.
At 10:08 GMT the EUR/USD pair was at 1.1000, gaining 0.08 percent. The EUR/CHF went up by 0.04 percent, at 1.0881 while the EUR/JPY went up by 0.23 percent at 118.47.