people and you listen to the ecj. that kind of stuff, the winner be completely happy but you put it together with today's amy's town and attempt to explain why britain never felt entirely comfortable in the european union and a sense theresa may making a kind of overtures, making things sound a little better andl making things sound a little better and i think the european reaction shows to some extent that is what, they get a different tone, they heard that, the problem is if you instantly get back to line by line, point by point detail, we are back to that side of things on monday. we have a weekend of enjoying in the town but on monday it is nativity detail again. where does this leave labour? i push them on single market membership and elizabeth of fudging going on because they have the same divisions within the party. does this put them in a more difficult position? it depends how the play it. here. now that's theresa may has acknowledged there will be basically the same rules and regulations around the markets,

that the brexiteers, with a harder line view of what this negotiation should be like, no money, no ecjper path which she doesn't feel is deliverable, this is why after six months... she could have done the six months ago, nothing has changed except she has just given into the reality that the europeans are not going to let us have our cake and eat it. i dispute that. i think the risk of delay as we miss out on the opportunities brexit coming to the country sooner. i was so impressed by borisjohnson‘s argument a week or so ago which set out the positive argument for brexit about how with free trade we can be more prosperous, that we can cut the cost of living forever body in society, but in food, clothing and footwear most, which affects the poorest in society most, we can improve their standard of living and boost wages once we are outside the containment of the european union. this is very exciting, and delaying it... theresa may has heard all those arguments, and yet today she has basically said, i'm sorry, i have to make this transitional plan. it is not going to work to have this c

so she set out the right start, which is that we are going to leave the ecj, the customs union, whichll be the transitional phase. as long as this transition phase goes on, although she made it clear it should be as short as possible, that fallows european council recommendations, it should be clear and short and going to a specific destination, as long as we still have that period, we are still bound in by european rules and can't get cracking and open up markets around the world. the future is simplified by sirjames dyson announcing the amazing results in his business saying he'd like to leave as rapidly as possible. as long as we are in the transition, we can't take on the real advantages of leaving. my feeling was this was a generous speech, the tone was welcoming, but if the wean europeans don't get on and negotiate seriously on the basis of trying to set up reciprocal free trade because that's where she was going, she says very clearly we have conformity of standards and regulation, it really should be an easy trade deal to do, it is massively in the european union interest to d

he says during that period the uk must refuse to accept no ecj rulings and says there must be no paymentso gain access to market. i will hand over to cz as to why that is wrong. he can say what he likes. he is not in charge of brexit. he is the foreign secretary and not the promina step. the prime lister can take the views and consideration but she is the one who says, i demand this. it is not the foreign secretary'sjob says, i demand this. it is not the foreign secretary's job to do so and it is very much not the position of a cabinet ministerand it is very much not the position of a cabinet minister and not one of the great offices of state to come out in one of the biggest newspapers and force his boss to break responsibility and force his boss to either repel what he says or adapt it, to look weak or strong fight for her right to be prime minister. he is bullying the prime minister with what he's saying. he might be right or wrong. this is an indication of just how intelligent this man is. i got that from my own talking to people very strongly. what that teaches me is that really is i

cases pending before the court ofjustice, the legal cases pending before the court of justice, the ecjth respect to judicial co—operation in civil and commercial matters and criminal matters, we made good progress on the principles of the approach and providing legal certainty and providing legal certainty and providing unnecessary disruption to courts, businesses and families. both parties reiterated the importance of providing legal certainty to businesses and consumers across the uk and the eu at the point of departure. we emphasised that the broader principles outlined in the uk‘s position paper seek to minimise the type of uncertainty and disruption for business which we are working to avoid. we remain committed to making as much progress on those issues which are related to our withdrawal. 0ur which are related to our withdrawal. our discussion have demonstrated yet again and exposed yet again that the uk's again and exposed yet again that the uk‘s approach is substantially more flexible and pragmatic than that of the eu as it avoids unnecessary disruption for british business an

britain to have the ability to negotiate trade deals for there to be no new regulations or subject to the ecjted negotiation. while it is important what the foreign secretary thinks, these are red lines when in fa ct thinks, these are red lines when in fact everything is up for grabs in this kind of discussion. vincent, do you think with theresa may and that important speech in florence, was billed as the speech of her life by some people, did she succeed with what she was trying to do? were you impressed? i think it was a short—term fix. if you look at the coverage they were not as impressed as she hoped european partners would be. it went some way to a short—term sticking plaster in terms of sorting out her own party. most of the sunday papers carry stories about a0 or 50 sunday papers carry stories about a0 or50 mps sunday papers carry stories about a0 or 50 mps who'd like to see her step aside. leadership rumours, will it be borisjohnson, aside. leadership rumours, will it be boris johnson, amber aside. leadership rumours, will it be borisjohnson, amber rudd. none of that's gone away. it

the eu wants it to be the ecj. the uk says that's not acceptable after brexit.e border between northern ireland and the irish republic. the uk says it wants to maintain an "invisible border" after brexit, with no physical infrastructure, and there were, we're told, "good discussions" on ireland this week. but while the eu understands the sensitivities on the border, it says frictionless trade is impossible once the uk leaves the single market and the customs union. the toughest issue of all, money. what are the uk's financial obligations to the eu when it leaves. the eu could be looking for a net amount after some money comes back to the uk of as much as 60 billion euros is, that is based largely on commitments the uk has already made. but the uk questioned the legal basis of these calculations and it went through them line by line this week. it is not prepared to pay nearly as much. so to get to whether uk wants to be, talking about this future trade relationship, a lot of progress will have to be made in the next few weeks before the leaders of the other 27 eu

may suggested last week that british courts could take into account the judgments and rulings of the ecjpositions together in some form of compromise? the other thing happening today, michel barnier, the european negotiator, who will meet david davis at a:30pm london time this afternoon, he will also be talking to ministers from the other 27 countries and we spoke to a couple of those ministers on their way in this morning. it was a similar message really. we have heard what mrs may said and we quite like the tone now but we need more detail. thank you. a surgeon has been stabbed in the neck on his way to a mosque in greater manchester in a suspected hate crime. dr nasser kurdy was attacked outside the altrincham and hale muslim association yesterday evening. he was taken to hospital and has since been discharged. police are questioning two men over the attack, as judith moritz reports. i don't know. he had something in his hand. moments after he was stabbed, this is nasser kurdy inside the mosque where he had gone for prayers. mr kurdy was on his way into the building when he became awa

the eu wants it to be the ecj. the uk says that‘s not acceptable after brexit. discussions" on ireland this week. but while the eu understands the sensitivities on the border, it says frictionless trade is impossible once the uk leaves the single market and the customs union. the toughest issue of all, money. what other uk‘s financial obligations when it leads? the uk could be looking at a net amount of as much as 60 billion euros, based largely on commitments the uk has already made. the uk questioned the legal basis of these calculations and went through them line by line this week. it is not prepared to pay nearly as much. to get to where the uk wants to be, talking about the future trade relationship, a lot of progress will have to be made in the next few weeks for the leaders of the other 27 eu countries meet for a summit in brussels. that will take place on the 19th and 20th of october when they will make a decision one way or another. if they do not think sufficient progress has been made they will not meet again untiljust been made they will not meet aga

court ofjustice overseeing the rights of european citizens living in britain, and the europeans see the ecjlesome bureaucratic overreach orjudicial imperialism but as a kind of rolls royce judicial institution that guarantees rights. that is somewhere where britain feels like it has a workaround. you listen to the european court of justice. people in brussels will hear that, they may not be completely happy, but you put it together with theresa may's tone, her attempt to explain why britain never felt entirely comfortable in the european union and they sense theresa may making a kind of over chalk or two, making things sound a little better. it has shown a little bit that it has worked, they get that tone. the problem is that you instantly go back to the line by line point by point detail, and we are back to that side of things on monday. we have a weekend of enjoying the tone, but on monday it is nitty—gritty detail again. enjoying the tone, but on monday it is nitty-gritty detail again. where does this lead labour? we have spoken about singer market labour mentorship and so on, and there

there are obvious a big stumbling blocks, in particular the role of the ecj and enforcing citizens' rightsoper negotiation, are you simply type to start —— argue simply trying to pass a series of tests set for good. could you define the phrase, sufficient progress. it is very vague. could it be argued that it is your very narrow interpretation of the negotiating mandate that is holding these talks back. sometimes the questions make me laugh. of course it is a proper negotiation. to ta ke course it is a proper negotiation. to take one example today, later on, we will be publishing an updated table of progress on citizens' rights, ensuring our direct outcome of those the graduation. if you look at them, you will see that most of them are now agreed. most of them, all of them, help all are part of the 3 million european union citizens and the one that ian united kingdom citizens, both. and so it is to their advantage. the same thing is true of northern ireland. we have made real progress. it has not been a one—way process at all. broadly thanks to the prime minister's speech last week, we hav

in other words, ecj, free movement, all of the three movements, and continue to pay into the budget.ven though we are a member of the customs union, we can start negotiating trade deals with the rest of the world ? trade deals with the rest of the world? that would have to annoyance all have a good edge again. —— that would have to happen or we will still have the cliff edge. you only also begin to negotiate the actual detail of the trade agreement and our economic arrangement when you area third our economic arrangement when you are a third country. eva hofstadter has been an island over the last two days, looking to a solution over what is a very tricky issue. —— diet at the hofstadter. even the language is sensitive. he says there should be no border between the north and south on the border should be somewhere in the irish sea.” south on the border should be somewhere in the irish sea. i think the irish border will prove very intractable. if the uk leads the customs union and the single market there will have to be border checks because there will be two regimes on the island. i

the eu wants it to be the ecj,' the uk says that‘s not acceptable after brexit the second majorfocus ireland this week. but while the eu understands the sensitivities on the border, it says frictionless trade is impossible once the uk leaves the single market and the customs union. and the toughest issue of all is money — what are the uk‘s financial obligations to the eu when it leaves? the eu hasn‘t published any final demand but it could be as high as a net amount that‘s after some money comes back to the uk of 60 billion euros. that is based largely on commitments the uk has already made. but the uk questions the legal basis of these calculations, and went through them line by line in negotations this week. it‘s not prepared to pay nearly as much. so how do we get from where we are now to where the uk wants to be: talking about a future trade partnership? it accuses the eu of being inflexible, liam fox talks of blackmail. well, two more rounds of negotiations have been scheduled in the weeks beginning. september the 18th and october the 9th — after that the eu will have to decide

the e.u.y protections for citizens, the 3 million live in the u.k., of course, and the role of the ecjill no doubt be brought up at a later date in all of that. did sterling look vulnerable to you if she does not go further on the money than just bridging the budget gap? is sterling vulnerable? bob: the answer to that is yes. it has been much more sensitive to policy from the bank of england and statements from the jumpof england, and that in sterling, close to 130, close to 136, roughly where we are today. it is much more due to the closing of short positions on the expectations they will raise rates in november. and you will see a move from a very easy monetary stance by the bank of england to what i would call a more moderate stance. one would not call it a tight monetary stance. stirling is being driven by expectations. that is now fully discounted in the market and the market is vulnerable to any bad news or negotiations on brexit. consequently, i think sterling is a short and i would go along the dollar. and expect a move back down to 132. manus: bob, thank you very much. a lovel

he started by saying there is talks.in brexit they have not put an agreement on the ecj and rights ofit more -- four brexit progress. a wonderfulbeen hour and we will continue. driving across america your best update, bloomberg daybreak, coast-to-coast on sirius. this is bloomberg. ♪ taylor: this is "bloomberg surveillance," let's get the bloomberg is this lash. this is theain -- business flash. >> if we continue to push past what is sustainable, i think the risk of higher asset prices or inflation do increase and that highlights the fact that in -- in my own view monetary policy over the next year and a half. taylor: he has become a steady advocate in favor of raising rates. german consumers are growing less confident over increasing concern over international problems even though they still see the country's economy as being on the upswing. the consumer climate index dropped slightly after five consecutive games. as things heat up for westinghouse electric, private equity firms blackstone and -- areequity management in talks about the joint bid. that is your bloomberg business flash

the eu wants it to be the ecj. the uk says that's not acceptable after brexit. issue of all is money — what are the uk‘s financial obligations to the eu when it leaves? the eu hasn‘t published any final demand but it could be as high as a net amount of 60 billion euros. that is based largely on commitments the uk has already made but the uk questions the legal basis of these calculations, and went through them line by line this week. it hasn‘t, though, yet published any counter—proposals of its own, so how do we get from where we are now to where the uk wants to be? it accuses the eu of being inflexible, liam fox talks of blackmail. well, two more rounds of negotiations have been scheduled in the weeks beginning september the 18th and october the 9th — after that the eu will have to decide whether it thinks ‘sufficient progress‘ has been made to allow the talks to move to the next phase. that‘s not a decision for the eu‘s negotiating team. it will have to be made unanimously by the leaders of the other 27 eu countries who will meet for a summit in brussels on th