For the DUP the
backstop could present an existential threat, while for the Brexiteers it would hobble what they see as an opportunity for a more prosperous life outside the bloc.
"Today, the prime minister and I have agreed on the joint legally binding instrument relating to the withdrawal agreement, this instrument provides meaningful clarifications and legal guarantees on the nature of the
backstop [...] It complements the withdrawal agreement without reopening", Juncker added.
Offering warm support for his Irish guest, Tusk said the European Union will not gamble with peace" on the Irish border by removing the
backstop from the deal.I hope that tomorrow we will hear from Prime Minister May a realistic suggestion on how to end the impasse," he said.
In January, MPs overwhelmingly rejected the withdrawal deal that the government had negotiated with the EU, backing an amendment for the government to seek "alternative arrangements" to the
backstop.
May conceded that her government hadn't settled on a way to replace the
backstop, telling lawmakers that "there are a number of proposals for how that could be done." May said measures under consideration included a unilateral exit mechanism from the
backstop for Britain, a time limit to the
backstop and "mutual recognition and trusted trader schemes." The EU says the
backstop is an insurance policy and as such can't have a time limit or a get-out clause.
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Irish Prime Minister Leo Varadkar said he was willing to explore
backstop solutions so long as they did not allow the UK to unilaterally walk away from an open border.
The Tsubaki BRUS
backstops are designed to replace the Falk[R] BIF model external high- speed
backstops.
These steps are seen as interlinked because the banking capital rules are expected to reduce bank risk, which would allow more sharing of risk among euro zone countries in the form of a common
backstop to prop up the sector's rescue facility, known as Single Resolution Fund.