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UK-EU negotiations: Key commentaries from Brussels

UK Prime Minister David Cameron and his negotiating counterpart from EU, Donald Tusk having tougher time than they had expected. First Day has been quite lengthier and issues were proving to be tougher to crack, especially regarding migrant benefits, which Mr. Cameron has planned to cut back.

David Cameron is looking for a deal that he can sell to British Public, more so to lawmakers at Westminster and EU countries are looking toward a deal that do not hamper the longer term interests of the union, such as ever closer integration.

Last night's dinner got well-stretched and Prime Minister Cameron was finally seen as leaving, without comments at 4:30 am in the morning, UK time.

Key commentaries -

  • Mr. Cameron tweeted, "I'm in Brussels where I'm negotiating hard for Britain. I'm clear, I'm not prepared to take a deal that does not meet what Britain needs"
  • Irish Prime Minister Enda Kenny, who urged, who voiced strongly in favor of Mr. Cameron saying that he is in a tough position with half of his cabinet and parliament against him was gloomier while leaving, said "It might take longer than they think".

Various demand have been voiced by different EU countries. East European smaller countries want that migrant benefit cut to be curtailed to make it more moderate. France is not happy with providing London competitive financial regulatory advantage and want to make sure Britain can't veto actions by Euro Zone countries. Germany wants Britain to support EU's closer integration. Belgium looking forward to make this deal once and for all.

  • EU negotiator Donald Tusk said, "For now, we have made some progress but a lot still remains to be done"

  • According to unnamed British official, "I would say the going is tough", ",,while many countries want to help, they want to make sure they keep Britain in EU, there wasn't much sign of how they are planning to do that in pactice, not showing much room to manoeuvre"

  • Italian Prime Minister, Matteo Renzi said, "I'm always confident but a bit less optimistic than when I arrived"

  • German chancellor Merkel said, "The wish is there to keep Britain as a member of European Union........it became clear that agreement will not be easy for many, but that will is there"

If the leaders fail to agree on a deal by end of summit, it may not bear well for Pound, which is currently trading at 1.431 against Dollar, next week. UK and EU are at historic moment, where a failure might result in a first time exit since its inception.

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