Johnson’s compromise allows a “meaningful Brexit” without the need for physical checks on the border – The Times

• The Times reports on the latest Brexit developments.
• A Brexit deal was hanging by a thread overnight after EU leaders withheld approval for formal negotiations.

In a series of Brexit updates, The Times has reported that Boris Johnson’s chances of a new Brexit deal were hanging by a thread overnight after EU leaders withheld approval for formal negotiations on his plans for an alternative to the Irish backstop. The article opens with the following:

Lead paragraphs

The prime minister set out proposals that would in effect keep Northern Ireland in the EU single market for all goods while following UK customs rules. He said the compromise allowed a “meaningful Brexit” without the need for physical checks on the border.

Leo Varadkar, the Irish prime minister, said that Mr Johnson’s proposals did not “fully meet the agreed objectives” of the original guarantee against a hard border on the island of Ireland but did not reject them entirely.

– The Times

In other related press, The Times has also published the following today:  

• Brussels Ready To Bypass Boris Johnson And Grant A Brexit Extension – Times

FX implications:

• GBP/USD: Under pressure despite Brexit-positive headlines