Merkel says there’s still time for an orderly Brexit

Merkel pledges to boost defence spending amid criticism from U.S.
German Chancellor, Angela Merkel
Access Bank Plc

German Chancellor Angela Merkel said on Wednesday there was still time for agreement on an orderly British exit from the European Union (EU).

She said this during an address to a session of German parliament held to discuss the upcoming summit of EU leaders, at which Brexit will be discussed.

Merkel however added that time was running short for a damaging disorderly departure to be avoided.

“We have little time left, but we do still have enough time,” she said.

“I can only say to German citizens that we are working hard to make sure we get an orderly Brexit,” she added.

The Sterling, battered by uncertainty over British Prime Minister Theresa May’s political future and the arithmetic of getting the withdrawal agreement through the British parliament, leapt to a daily high against the dollar after Merkel’s remarks.

But Merkel, who met May in Berlin on Tuesday, said none of the remaining 27 members of the EU had any intention of modifying the exit agreement, which had found little support in Britain’s parliament.

“We have no intention of changing the exit agreement,” Merkel told a session of the German parliament held to discuss the upcoming Brussels summit of EU leaders.

“That is the common position of the member states,” she further stated.