As there is a lot of speculation about the length of the transition period once the UK leaves the EU, let me say this. The issue of the length of the transition period was not discussed among the EU27 leaders yesterday. But let me recall that in her Florence speech in September 2017, Prime Minister May proposed a transition period of around 2 years. And the EU accepted this proposal unanimously. Therefore, if the UK decided that an extension of the transition period would be helpful to reach a deal, I am sure that the leaders would be ready to consider it positively.
[...] Finally, on today's Euro Summit. The aim was to assess the state of play of the EMU reform, and to keep up the momentum for change. We agreed that we need to accelerate the technical work. We want to get an agreement on the banking union and the ESM in December. I hope our discussion today will inspire the Euro group to act more dynamically.
Full remarks
European Council conclusions, 18 October 2018
Report by President Donald Tusk to the European Parliament on October European Council meetings
Last Wednesday evening, leaders listened to Prime Minister May’s views on the negotiations. Afterwards, the EU27 met in the Article 50 format, with our chief negotiator Michel Barnier, to discuss the state of play. It was made clear by the UK that more time is needed to find a precise solution. Therefore, there is no other way but to continue the talks. Leaders expressed their full trust and support for Michel Barnier.
Since Prime Minister May mentioned the idea of extending the transition period, let me repeat that if the UK decided that such an extension would be helpful to reach a deal, I am sure that the leaders would be ready to consider it positively.
President Juncker also touched upon preparations for a no-deal scenario, an outcome which we hope never to see. And, of course, I stand ready to convene a European Council, if and when the Union negotiator reports that decisive progress has been made. The Brexit talks continue with the aim of reaching a deal. [...]
During the Euro Summit, the Eurogroup chair Mario Centeno gave an update on the finance ministers’ work on the ESM reform and the Banking Union while the European Central Bank President Mario Draghi informed leaders on the economic outlook. The objective of the meeting was to keep up the pressure for concrete results in December. EU finance ministers should speed up their work, if we are to achieve our goal, which is strengthening the ESM and the banking union further. [...]
For many of the issues discussed at the European Council – from migration to security – as well as the need to scale up the Union's presence as a global actor in many fields, the EU's budget is key. At technical level, there have been detailed discussions on the next Multiannual Financial Framework. But, in general terms, we are far from reaching any sort of consensus. That is why I will propose a political discussion at the December European Council. I welcome the intention that the consolidated position of the European Parliament is to be known by then. [...]
Full report
© European Council
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