Pound jumps after UK and EU agree draft text on future relationship

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Sunday, November 25, will be held the European Union summit, which will discuss the British draft agreement on Brexit.

Telling the news cameras that she had tasked British negotiators to work overnight to get an agreement on the draft document, Theresa May said: "this is the right deal for the UK". So a single state like Spain can not block it.

"She said that the United Kingdom and government of Gibraltar looked forward to these discussions continuing as we discuss the future relationship".

"Until that's clear in the exit text and the political declaration over the future relationship, we won't be able to agree to it".

Sanchez (inset) wants changes to Brexit arrangements for Gibraltar.

British Prime Minster Theresa May says Brexit is close to being a reality
British Prime Minster Theresa May says Brexit is close to being a reality

"The safeguards put in place, the reassurances given, the way that the European Union dislike the backstop, means as a legal construct, not as a person or country, there is no way that there will be a situation where we can be bound into the backstop indefinitely", she said.

One diplomat said that was a message aimed as much at Britain - where May's plans have come under heavy fire from within her ruling Conservative Party - as at the bloc's own "nitpickers" such as Spain or France, which has sought more assurances of future access to Britain's rich fishing waters.

Mr Corbyn said that "if the government can't negotiate an alternative then it should make way for those who can and will".

And she branded Green MP Caroline Lucas's call for another referendum, on the grounds that public opinion had shifted since the 2016 referendum, "absolutely ridiculous", saying the public had given this Parliament "an instruction" to leave the EU. If they manage to ensure there will be no competitive advantage, it will cause May further difficulties in selling the withdrawal agreement in the British parliament.

Rudd told the BBC: "It is my view that parliament, the House of Commons, will stop "no deal". There isn't a majority in the House of Commons for that to take place".

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The country will not agree to the draft deal until that is clarified, he said following a meeting with European Union ministers.

News of Saturday's last-ditch meeting will not go down well in Berlin, where Germany's Chancellor Angela Merkel had earlier urged negotiators not to reopen talks on the main withdrawal agreement.

The small Northern Irish Democratic Unionist Party (DUP), which supports British Prime Minister Theresa May's government, failed to back her in several votes on a finance bill on Monday after being vocally critical of her draft Brexit deal.

They said: "Leaders do not feel like negotiating on Sunday".

Discussions in Brussels focus on the political declaration outlining relations from the scheduled end of the transition period in 2021.

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The Treasury has agreed to publish its analysis on the costs of its deal before lawmakers vote on the deal, but had wanted to compare its plans only to a no-deal scenario.

Spain's EU Affairs State Secretary, Luis Marco Aguiriano, has said there is still time to "legally clarify" the agreement before Sunday.

Sources from the meeting claim Spain argued Gibraltar is not a part of the United Kingdom, meaning any future agreement can't apply to its territory.

But spokesman Margaritis Schinas did confirm that "work is continuing" to resolve differences between London and Madrid over Gibraltar, the tiny territory at the tip of the Iberian Peninsula that was ceded to Britain in 1713 but is still claimed by Spain.

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