The pound sterling collapses as the British prime minister remains firm on the Brexit


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His comments came one day after EU leaders rejected his plans at a summit in Austria.

After a dinner in Salzburg, EU leaders said they would continue to call for an agreement on Brexit next month, but rejected the May proposal to seek a free trade zone with the EU. # 39; EU.

European leaders have also warned that negotiations could collapse if it leaves no room for maneuver on border and trade issues in Northern Ireland.

After these warnings, May faced reporters on Thursday night and repeated that Britain was ready to leave the EU without an agreement. She also rejected any suggestion that if the US parliament were to reject its plan to leave the EU, there could be a second referendum.

"There will be no second referendum," she said.

The pound fell by nearly 1% Friday before the speech and fell to 1.3% at the end of May.

As part of the May "verification plan", a free trade area between the UK and the EU would be created with a "common regulation" for industrial and agricultural products. The UK product regulation "would harmonize" with that of the European Union.

It also calls for an "easiest customs regime" to allow the smooth movement of goods between the United States and the EU countries after Brexit.

Britain is expected to leave the EU on March 29, 2019 and will have 21 months to make the transition to full withdrawal by the end of 2020.

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