Via – Yahoo News

British negotiators submitted a revised set of Brexit plans to Brussels amid growing optimism that a deal could be struck this week.

The new proposals are aimed at clarifying the U.K.’s suggested customs rules for Northern Ireland, two officials said. Talks will continue throughout the day in Brussels as the two sides try to agree on how far Northern Ireland will be detached from the EU’s customs union — something that risks incurring the opposition of the Democratic Unionist Party, whose support will be vital for any deal to pass.

Officials may even have a draft legal text ready for diplomats to scrutinize on Wednesday, two people said. Earlier, the European Union’s chief Brexit negotiator Michel Barnier said a deal is possible this week — but talks remain tough.

All time stamps are Brussels time (CET).

Key developments:

U.K. submits new proposals to resolve impasseA hard Brexit remains a tail risk which is simply too big to ignoreJohnson still needs to persuade his Northern Irish allies

Negotiators Closing In on Draft Brexit Deal (4:30 p.m.)

U.K. and EU negotiators in Brussels are closing in on a draft Brexit deal with optimism that there will be a breakthrough before the end of Tuesday, two EU officials said.

Any draft legal text will hinge on whether Prime Minister Boris Johnson believes he has the support of the U.K. Parliament — crucially including the backing of Northern Ireland’s Democratic Unionist Party. The pound extended its gain to more than 1% against the dollar.

Saturday Sitting Will Depend on Talks: Rees-Mogg (3:15 p.m.)

Leader of the House of Commons Jacob Rees-Mogg said it still hasn’t been decided if the U.K. Parliament should meet on Saturday, and events at the summit of EU leaders on Thursday and Friday will determine if it does.

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