Britain PM Theresa May fails in EU summit talks

Brussels, November 25: British Prime Minister Theresa May failed to make any breakthrough in Brexit talks with the European Union summit talks heled in Brussels. 

Theresa May has been given 10 days to improve her offer to the EU if she wants its leaders to allow Brexit talks to move on to transition and trade. After a meeting in Brussels, European Council President Donald Tusk said “Ms May would have to finalise her deal by 4 December when she is expected to meet other key EU officials.”

Britain is set to leave the bloc on March 29, 2019, but the negotiations must be wrapped up in less than a year to leave parliaments time to ratify the agreement.

Recently Britain officially declared that it is the world’s sixth strongest economy. Since many years Britain was in the top five economies of the world but France beat Britain which put the country on the sixth position. The slide reflects a sharp deceleration in Britain's economic growth since it voted to leave the European Union in June 2016. The pound has weakened dramatically, consumer spending has slowed and prices have spiked.