Brexit: Sides see way forward to deal as Johnson says there is ‘every hope’

Success in talks between the United Kingdom and European Union cannot be guaranteed but a way forward to an agreement is in sight, European Commission president Ursula von der Leyen has said.

"As things stand, I cannot tell you whether there will be a deal or not, but I can tell you that there is a path to an agreement now," Mr von der Leyen told the European Parliament on Tuesday. "The path may be very narrow but it is there and it is therefore our responsibility to continue trying."

British prime minister Boris Johnson later told the House of Commons that there was “every hope, every opportunity” that an agreement could be reached, provided the EU recognised British sovereignty in key matters.

The House of Commons will rise for the Christmas recess this week but MPs could be recalled early if there is a breakthrough in talks, Downing Street said on Wednesday afternoon.

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Indications that negotiators could be nearing a deal sent sterling to its highest level for two years.

Minister for Finance Paschal Donohoe said there was “a continued risk” of a no-deal outcome, after he chaired a meeting of the Eurogroup of the single currency area. “We hope that a successful agreement is possible but of course we want the right agreement,” Mr Donohoe said.

There has been progress made on state aid that allows either side to “autonomously” act if they believe the deal has been broken, Ms von der Leyen told MEPs, while noting that differences remain on how to ensure fair competition if EU and UK standards diverge over time.

The biggest stumbling block is now over the future of access for EU boats to British fishing grounds, a politically sensitive topic for both sides.

“On fisheries, the discussion is still very difficult. We do not question the UK’s sovereignty on its own waters, but we ask for predictability and stability for our fishermen and our fisherwomen,” Ms von der Leyen said. “And in all honesty, it sometimes feels that we will not be able to resolve this question. But we must continue to try.”