European Union to propose limited market access for UK-based banks

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Best For Britain says that effectively amounts to a transfer of powers to Brussels which - under the 2011 European Union Act - would trigger a referendum.

In a statement previously posted on his website, the Taoiseach confirmed that a hard border would not be contemplated and that "there will be no physical infrastructure or related checks or control". It also reiterates the importance given to securing equal and fair treatment for European Union citizens living in the United Kingdom and British citizens living in the EU. This option therefore appears incompatible with the UK's ability to use its post-Brexit autonomy to make meaningful decisions regarding standards.

"Smart border technology is primarily a means of enhancing efficiency".

Though Britain is due to leave the European Union in March 2019, much uncertainty hangs over what happens next and that's raised fears that tariffs will be slapped on British goods and the key services sector will face wide-ranging restrictions.

Although Donald Tusk has commented that it would be too hard to implement, and therefore unlikely to go ahead, organisations in the industry are pushing for a deal to be reached.

Mr Varadkar says certain tensions could be re-ignited by a hard border.

Varadkar, who is now on a tour to the United States ahead of St. Patrick's Day, dismissed the claims on Monday morning stating that "it is not a solution that we envisage".

"I know (Northern Ireland Secretary) Karen Bradley has already done that and a delegation of British politicians from the House of Lords and House of Commons have done that too". The DUP's involvement is significant as they ensure the Conservatives have enough votes to govern a majority in parliament.

'We will always be very happy to listen to any proposals on our exit from the European Union, ' he said.

Without offering substantive details, Arlene Foster, the leader of the Democratic Unionist Party, the Northern Ireland party that props up May's government, said she wants to "see an optimistic, sensible and pragmatic approach to Brexit" that avoids barriers going up.

The former Northern Ireland secretary Peter Hain also spoke on the matter, mentioning the social implications for re-establishing such a system.

European Parliament Coordinator for Brexit Guy Verhofstadt added: "In order to break the deadlock we now face, I believe it is important that the UK Government now seriously considers engaging with the European Parliament's proposal for an association agreement, as catered for by Article 217 of the EU Treaty".