EU's Šefčovič: We are at a crossroads in relationship with UK

Maroš Šefčovič, European Commission Vice President of Interinstitutional Relations and Foresight, said on Wednesday that the Northern Ireland Protocol is the best solution to Brexit problems, as reported by Reuters.

Additional takeaways

"EU citizens must have legal certainty if they are covered by the Withdrawal Agreement with Britain."

"I have assurances from Lord Frost all outstanding issues will be resolved quickly."

"We stand ready to amend our laws to ensure continued supply of medicine to Northern Ireland.

"We cannot undo the core of the protocol."

"The UK has to abide by its legal obligations on border controls."

"There is no other way around this."

"We have always shown solidarity with Ireland."

"We are at a crossroads in relationship with the UK."

"If the UK takes any new unilateral action, the EU will react swiftly."

"I am calling on the UK government to work together on this."

"We will not accept discrimination of EU citizens."

Market reaction

The GBP/USD pair came under modest bearish pressure after these comments and was last seen trading flat on the day at 1.4155.